Investment Industry Regulatory Organization of Canada - IN THE MATTER OF Kostantinos Georgakopoulos - Motion



    VANCOUVER, Jan. 9 /CNW/ - Following a motion hearing held on September 5,
2008, in Vancouver, British Columbia, a Presiding Officer of the Investment
Industry Regulatory Organization of Canada ("IIROC") ordered the following in
the matter of Kostantinos Georgakopoulos (the "Respondent"):

    
    (a) Respondent's application that the transcript of John Hull's
        investigative testimony, Volumes 1 and 2, dated March 16, 2005, and
        May 2, 2005 is not admissible be dismissed.

    (b) Respondent's application that the Letter of Acceptance, Waiver and
        Consent ("AWC") accepted July 21, 2006, between NASD and John Hull is
        not admissible be dismissed;

    (c) Respondent's application for an order striking out Paragraphs 51-55
        of the Notice of Hearing be dismissed.
    

    John Hull was a trader at Public Securities Inc., an American market
making firm, with whom the Respondent placed orders for trades for certain
Over The Counter Bulletin Board companies and in particular, EDLT. Mr. Hull
made a market in EDLT, a thinly-traded stock. In the "AWC", Mr. Hull agreed to
be barred from association with any NASD member firm in all capacities. Mr.
Hull had engaged in a series of pre-arranged and other manipulative trades,
including trades with Canadian firms.
    IIROC formally initiated the investigation into the Respondent's conduct
on August 29, 2006. The alleged violations occurred when the Respondent was a
Registered Representative with the 1177 West Hastings Street Branch of Golden
Capital Securities Ltd. The Respondent is currently registered with the
1450-1055 West Hastings Street Branch of Gateway Securities Inc., an
IIROC-regulated firm.
    The Presiding Officer issued the Decisions and Reasons on November 25,
2008. The Presiding Officer's Decision and Reasons are available at
www.iiroc.ca.

    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, apopovic@iiroc.ca; Jeff Kehoe, Director, Enforcement, (416)
943-6996, jkehoe@iiroc.ca


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