IIROC announces disciplinary hearing for David Bruce Connacher

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.

Hearing Date:   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:

(a)  Conducting trades in his firm's average price client inventory account (API) in a manner that was misleading and deceptive; and
(b)  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

For further information:

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


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