IIROC announces disciplinary hearing for Julian Edward Pope

TORONTO, Feb. 2 /CNW/ - A Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) has scheduled a hearing to consider evidence and submissions in the matter of Julian Edward Pope.

The hearing concerns allegations that Mr. Pope failed in his obligations to offer priority to his own clients on a bond offering, and failed to act fairly in that transaction.  

Hearing Date:  10:00 am, March 22, 2011
Location:    JPR Meeting Rooms, 390 Bay Street, 3rd Floor, Hearing Room C
Toronto, ON

The hearing is open to the public, unless the panel orders otherwise. The panel's decision will be made available at www.iiroc.ca.

Specifically, the allegations are that Mr. Pope:

(a)  participated personally in a bond offering through a client, thereby failing to give priority to other client orders for the same bond offering, contrary to IIROC Rule 29.3A; and
(b)   used non-public information about that bond offering and arranged to have a client purchase bonds from the offering on Mr. Pope's behalf. This conduct constitutes a failure to act fairly, honestly and in good faith when executing and administering trades in the domestic debt market, contrary to IIROC Rule 2800 (4.1).

The alleged violations occurred between April 4 and 7, 2008, when he was a Registered Representative with the Toronto branch of HSBC (Canada) Inc., an IIROC-regulated firm.  IIROC began its formal investigation into Mr. Pope's conduct in September 2008. He is currently registered with Desjardins Securities Inc., 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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