IN THE MATTER OF TD Waterhouse Canada Inc. - Settlement



    TORONTO, July 16 /CNW/ - On June 25, 2008, a Hearing Panel of the
Investment Industry Regulatory Organization of Canada (IIROC) accepted a
Settlement Agreement between IIROC Staff and TD Waterhouse Canada Inc. (the
"Respondent"). Pursuant to the Settlement Agreement, the Respondent admitted
that:

    
    (a)  In the period January to September, 2006, the Respondent discount
         brokerage failed to have written procedures and systems in place to
         review customer trading and accounts in relation to the receipt of
         speculative over-the-counter securities and the detection of
         suspicious activity, contrary to Policy 9 of the Investment Dealers
         Association of Canada.

    Pursuant to the Settlement Agreement, the Hearing Panel imposed the
following penalty against the Respondent:

    (a)  A fine in the amount of $25,000, and required the Respondent to pay
         costs in the amount of $8,500.
    

    The Investment Dealers Association of Canada formally initiated the
investigation into the Respondent's conduct on April 6, 2006. The violations
occurred when the Respondent was a Member of the Investment Dealers
Association of Canada. The Respondent is currently a Dealer Member of IIROC.
    The Hearing Panel will issue and make available to the public its Reasons
and Decision at a later date. The Settlement Agreement is available at
http://docs.iiroc.ca/DisplayDocument.aspx?DocumentID=3B2B0029B58F43299987EB028
854C634&Language=en.

    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.





For further information:

For further information: Alex Popovic, Vice President, Enforcement,
(416) 943-6904 or apopovic@iiroc.ca; Andrew Werbowski, Enforcement Counsel,
(416) 943-5789 or awerbowski@iiroc.ca


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