TORONTO, Jan. 19 /CNW/ - A hearing has been scheduled before a Hearing
Panel of the Investment Industry Regulatory Organization of Canada
(IIROC) in the matter of David Bruce Connacher.
The hearing concerns allegations that Mr. Connacher violated IIROC rules by engaging in misleading and
deceptive trading activity, and also by engaging in personal financial
dealings with clients without the knowledge of his employer.
The hearing is open to the public, unless the panel orders otherwise.
The panel's decision will be made available at www.iiroc.ca.
9:00 a.m. April 20, 21 and 26, 2011
Legal Transcript Services
390 Bay Street, 11th Floor, Suite 1102 Toronto, ON
Specifically, the allegations are that from March to October 2008, Mr.
Connacher engaged in conduct unbecoming or detrimental to the public
interest, contrary to IIROC Rule 29.1, by:
Conducting trades in his firm's average price client inventory account
(API) in a manner that was misleading and deceptive; and
Entering into several loan arrangements with two of his clients without
the knowledge or consent of his employer.
The alleged violations occurred between March 2008 and October 2008 when
Mr. Connacher was the Head Trader and a Registered Representative with
Evergreen Capital Partners Inc. Evergreen ceased operations on October
29, 2008, and IIROC began its formal investigation into Mr. Connacher's
conduct on November 3, 2008. Evergreen filed an Assignment in
Bankruptcy on or about December 2, 2008. Mr. Connacher has not been
registered with IIROC since Evergreen ceased its operations.
* * *
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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