VANCOUVER, Dec. 7 /CNW/ - The Investment Dealers Association of Canada
(IDA) announced today that a hearing will be held before a Hearing Panel
appointed pursuant to By-law 20 for the presentation, review and consideration
of a Settlement Agreement.
The Settlement Agreement is between IDA staff and Raymond James Ltd.,
which was at all material times a Member of the IDA, and relates to matters
for which it may be disciplined. The conduct that is the subject of the
hearing occurred during the time period from May 2002 to September 2003. The
charges against Raymond James Ltd. include facilitating purchases of shares of
private companies in client accounts without having sufficient systems and
procedures in place to ensure the adequate review and supervision of private
placement transactions, and failing to ensure adequate supervision of one of
its registered representatives, contrary to By-law 29.1.
The hearing is scheduled to commence at 10:00 a.m. on Tuesday,
December 18, 2007 at Suite 2800 - 1055 West Georgia Street, Vancouver, B.C.
The hearing is not open to the public unless and until the Settlement
Agreement has been accepted by the Hearing Panel. Copies of the decision of
the Hearing Panel and the Settlement Agreement will be made available if and
when the Settlement Agreement is accepted by the Hearing Panel.
The Investment Dealers Association of Canada (IDA) is the national
self-regulatory organization of the securities industry. The IDA's mission is
to protect investors, foster market integrity and enhance the efficiency and
competitiveness of the Canadian capital markets. The IDA enforces rules and
regulations regarding the sales, business and financial practices of its
Member firms and their approved persons. Investigating complaints and
disciplining Members and approved persons is part of the IDA's regulatory
role. It is IDA policy to ensure that where relevant, referrals to the
appropriate policing authority are made.
For further information:
For further information: Warren Funt, Vice President, Western Canada,
(604) 331-4750 or firstname.lastname@example.org; Jeff Kehoe, Director, Enforcement Litigation,
(416) 943-6996 or email@example.com