IN THE MATTER OF Yves Méchaka - Settlement



    MONTREAL, June 26 /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 Tuesday, July 14, 2009, at 10:00 a.m. or as soon
thereafter as possible, at 5 Place Ville-Marie, Suite 1550, Montréal, Québec,
in the Board Room, to determine whether it should, pursuant to IIROC Dealer
Member Rule 20.36, accept the Settlement Agreement between IIROC Staff and
Yves Méchaka (the Respondent).
    The subject matter of the proposed Settlement Agreement concerns
allegations that:

    
    (a) Between 2002 and 2005, the Respondent failed to respect the minimum
        standards for retail account supervision, in several respects, and to
        ensure adequate supervision of the client accounts and the activities
        of the representatives at iForum Securities, contrary to Association
        By-law 29.27(b) and Policy No. 2;

    (b) Between 2001 and 2005, the Respondent failed to establish and to
        maintain an environment that would allow adequate supervision and
        monitoring of the activities of iForum Securities and ensure
        compliance with securities regulations, contrary to Association By-
        law 29.27(a) and Policy No. 2;

    (c) Between 2002 and 2005, the Respondent failed to use the required due
        diligence to correct numerous deficiencies observed during
        examinations by the IDA's Sales Compliance Department and to comply
        with regulatory requirements, thereby engaging in business conduct
        unbecoming and detrimental to the public interest, and contrary to
        Association By-law 29.1.
    

    The IDA initiated the investigation into the Respondent's conduct on
November 11, 2005. It was alleged that the violations occurred when the
Respondent was president, branch manager, the officer responsible in Québec,
and a registered representative of iForum Securities Inc., a former
IIROC-regulated Firm. Mr. Méchaka has not been registered with an
IIROC-regulated Firm since February 2007.
    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.





For further information:

For further information: Carmen Crépin, Vice President, Québec, (514)
878-2854, ccrepin@iiroc.ca; Jeff Kehoe, Director, Enforcement, (416) 943-6996,
jkehoe@iiroc.ca


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