TORONTO, Feb. 8, 2013 /CNW/ - On February 8, 2013, a Hearing Panel of
the Investment Industry Regulatory Organization of Canada (IIROC)
accepted a Settlement Agreement between IIROC staff and Deutsche Bank
Securities Ltd. (DBSL).
DBSL admitted that in late July and early August 2007, it failed to
engage Compliance with emerging issues in the asset-backed commercial
paper market, contrary to Investment Dealers Association of Canada
Pursuant to the Settlement Agreement, DBSL agreed to pay a fine of $1
The Settlement Agreement is available at:
The Hearing Panel's decision 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.
IIROC formally initiated the investigation into DBSL's conduct on
February 13, 2008. The alleged violations occurred when DBSL was a
member firm of the Investment Dealers Association of Canada. DBSL is
currently an IIROC-regulated firm.
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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:
Acting Vice President, Enforcement
Public Affairs Specialist