TORONTO, Dec. 23 /CNW/ - Notice is hereby given that a hearing will be held before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC), on January 18, 2010 at the IIROC office, located at 121 King Street West, Suite 1600, Toronto, Ontario, at 10:00 a.m. or as soon thereafter as the hearing can be held, to consider whether, pursuant to section 20.36 of IIROC Dealer Member Rule, the Hearing Panel should accept a Settlement Agreement entered into between Staff of IIROC and Stephen Taub (the "Respondent").
The subject matter of the proposed Settlement Agreement concerns allegations that:
(a) Between November 1998 and June 2003 (the "Material Time"), the Respondent engaged in conduct unbecoming contrary to Association By-law 29.1 in that he failed in his role as gatekeeper and facilitated certain trading activity for certain clients that, alone or in combination, was a possible indicator of conduct that was potentially illegal, manipulative, deceptive or an improper control block distribution.
IDA formally initiated the investigation into the Respondent's conduct in July 2001. It was alleged that the violations occurred when the Respondent was a Registered Representative with the Toronto Branches of Brant Securities Limited and Research Capital Corporation. The Respondent is no longer a registrant with an IIROC regulated firm.
The hearing is not open to the public unless and until the Settlement Agreement has been accepted by the Hearing Panel. If the Hearing Panel accepts the Settlement Agreement, the Hearing Panel's decision and reasons will be made available to the public.
IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada. Created in 2008 through the consolidation of the Investment Dealers Association of Canada and Market Regulation Services Inc., IIROC sets high quality regulatory and investment industry standards, protects investors and strengthens market integrity while maintaining efficient and competitive capital markets. IIROC carries out its regulatory responsibilities through setting and enforcing rules regarding the proficiency, business and financial conduct of dealer firms and their registered employees and through setting and enforcing market integrity rules regarding trading activity on Canadian equity marketplaces.
SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - General News
For further information: For further information: Alex Popovic, Vice President, Enforcement, (416) 943-6904, email@example.com; Jeff Kehoe, Director, Enforcement Litigation, (416) 943-6996, firstname.lastname@example.org