IIROC announces date to schedule penalty hearing for Harold Hee Jeen Ahn

TORONTO, Jan. 17 /CNW/ - A Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) will meet to set a date for a disciplinary hearing in the matter of Harold Hee Jeen Ahn.

The discipline hearing concerns allegations that Mr. Ahn misappropriated client funds in excess of $780,000 and provided fictitious account documents to that client. In addition, it is alleged that Mr. Ahn failed to co-operate with IIROC by failing to attend an interview.

The set date hearing is open to the public, unless the Hearing Panel orders otherwise. The date for the disciplinary hearing will be made available at www.iiroc.ca.

Set Date Hearing:          January 27, 2011 at 10 am.
Location:            121 King Street West, Suite 1600, Boardroom 2;

Specifically, the allegations are that Mr. Ahn:

(a)     engaged in business conduct or practice which is unbecoming or detrimental to the public interest, contrary to IIROC Rule 29.1 in that he:

              i.      misappropriated client funds; and

              ii.      provided fictitious account documents to that client, and

(b)     failed to co-operate with IIROC in that he failed to attend at a properly constituted IIROC interview, contrary to IIROC Rule 19.5;

The alleged Rule 29.1 violations occurred between June and October 2010. IIROC formally initiated the investigation into Mr. Ahn's conduct in October 2010. The alleged Rule 19.5 violation occurred in December 2010. The allegations occurred when he was a Registered Representative with the Scarborough branch of Edward Jones, an IIROC-regulated firm.   The Respondent is no longer a registrant 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

For further information:

Jeff Kehoe
Vice President, Enforcement
      Elsa Renzella
Director, Enforcement Litigation


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