TORONTO, Jan. 17 /CNW/ - A Hearing Panel of the Investment Industry
Regulatory Organization of Canada (IIROC) will meet to schedule a
disciplinary hearing in the matter of Roger Carl Schoer.
The hearing concerns allegations that Mr. Schoer induced clients and other individuals to give him money
by misrepresenting the payments as private placement investments in
various small corporate entities. It is further alleged that Mr. Schoer
used the funds to pay off other clients and individuals who previously
invested in private placements, or to pay unrelated personal debts.
This alleged activity constitutes conduct unbecoming and detrimental to
the public interest, contrary to IIROC Rule 29.1.
Set Date Hearing:
10:00 am, Wednesday, January 26, 2011
IIROC Boardroom 2, 121 King Street West, Suite 1600, Toronto
The set date hearing is open to the public, unless the panel orders
otherwise. The date for the discipline hearing will be made available
The alleged violations occurred between 2002 and 2007. IIROC formally
began the investigation into Mr. Schoer's conduct in January 2008. The
allegations occurred when Mr. Schoer was a Registered Representative
with the Toronto head offices of Octagon Capital Corp. and Standard
Securities Capital Corp., both IIROC-regulated firms. Mr. Schoer is no
longer registered with an IIROC-regulated firm.
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 and permanent bans or
terminations 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.
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.
SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - General News
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