VANCOUVER, Sept. 20, 2011 /CNW/ - A hearing has been scheduled before a Hearing Panel of the Investment
Industry Regulatory Organization of Canada (IIROC), to consider whether
the panel should accept a Settlement Agreement entered into between
Staff of IIROC and Berkshire Securities Inc.
The proposed agreement concerns allegations in relation to Berkshire's
failure to effectively supervise one of its Registered Representatives
and recommendations and representations made to clients.
The hearing will not be open to the public, but will become open in the
event the panel accepts the agreement. If the agreement is accepted,
the panel's decision and reasons, together with the Settlement
Agreement, will be made available at www.iiroc.ca.
September 30, 2011 at 10:00 a.m.
Reportex Agencies Ltd., Suite 1010
925 West Georgia Street
IIROC formally initiated the investigation into Berkshire's conduct in
July 2008. The alleged violations occurred when Berkshire was a member
firm of the Investment Dealers Association of Canada (now part of
IIROC). Berkshire was subsequently purchased by Manulife Financial
Corporation, and changed its name to Manulife Securities Incorporated.
Manulife Securities is currently 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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