MONTRÉAL, Que, April 27, 2012 /CNW/ - A hearing has been scheduled
before a Hearing Panel of the Investment Industry Regulatory
Organization of Canada (IIROC) in the matter of Vinh-Phat Nguyen-Qui.
The hearing concerns allegations Mr. Nguyen-Qui entered buy and sell
orders in the pre-opening market and cancelled them prior to market
opening for the sole objective of acquiring a better chronological
position once the market opens. He also entered short-sale orders in
the pre-opening market without designating them as short sales and/or
at a price below the last sale price as indicated.
The hearing is open to the public, unless the panel orders otherwise.
The decision of the panel will be made available at www.iiroc.ca.
Documents related to ongoing IIROC enforcement proceedings - including
Reasons and Decisions of Hearing Panels - are posted on the IIROC
website as they become available. Click here to search and access all IIROC enforcement documents.
10:00 a.m., June 6-7, 2012
2200 Mansfield Street
Mansfield 3 Room
Specifically, the allegations are:
Between October 2, 2009 and December 23, 2009, Vinh-Phat Nguyen-Qui:
a) entered orders he knew or ought reasonably to have known would
create, or could reasonably be expected to create, a false or
misleading appearance of trading activity or interest in the purchase
or sale of the security, contrary to UMIR 2.2(2)(a);
b) entered short-sale orders in the pre-opening market without the
proper designation, contrary to UMIR 6.2(1)(b)(viii);
c) entered short-sale orders in the pre-opening market below the
last sale price contrary to UMIR 3.1(1).
IIROC formally initiated the investigation into Mr. Nguyen-Qui's conduct
in May 2010. The alleged violations occurred when Mr. Nguyen-Qui was a
Registered Representative with the Montréal branch of W. D. Latimer Co.
Ltd., an IIROC-regulated firm. Mr. Nguyen-Qui is no longer a registrant
with an IIROC-regulated firm.
The Notice of Hearing which sets out the allegations is available at
* * *
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.
IIROC investigates possible misconduct by its member firms and/or
individual registrants. It can bring disciplinary proceedings which may
result in penalties including fines, suspensions, permanent bars,
expulsion from membership, or termination of rights and privileges for
individuals and firms.
All information about disciplinary proceedings relating to current and
former member firms is available in the Enforcement section of the IIROC website. Background information regarding the
qualifications and disciplinary history, if any, of advisors currently
employed by IIROC-regulated firms is available free of charge through
the IIROC AdvisorReport service. Information on how to make investment dealer, advisor or
marketplace-related complaints is available by calling 1.877.442.4322.
SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - General News
For further information:
Vice president, Québec
Director, Public Affairs