VANCOUVER, June 7, 2013 /CNW/ - On May 30, 2013, a Hearing Panel of the
Investment Industry Regulatory Organization of Canada (IIROC), accepted
a Settlement Agreement, with sanctions, between IIROC staff and Yufeng
Mr. Zhang admitted to the following violation:
On 25 days between July and December 2010, he engaged in a manipulative
or deceptive practice in the pre-opening on a marketplace contrary to
UMIR 2.2(1) and UMIR Policy 2.2, for which he is liable under UMIR
Pursuant to the Settlement Agreement, Mr. Zhang agreed to the following
A fine in the amount of $10,000; and
A suspension of access to IIROC-regulated marketplaces for one month
beginning June 1, 2013.
Mr. Zhang also agreed to pay costs in the amount of $1,500.
The Settlement Agreement and 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 Mr. Zhang's conduct in
May 2012. The conduct occurred when he was a Registered Representative
with Wolverton Securities Ltd., an IIROC-regulated firm, where Mr.
Zhang is still registered.
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, Western Canada
Senior Media and Public Affairs Specialist