VANCOUVER, May 19 /CNW/ - A Hearing Panel of the Investment Industry
Regulatory Organization of Canada has scheduled a disciplinary hearing
for Marco Myatovic and Doreen Lowe.
The hearing concerns allegations Mr. Myatovic and Ms. Lowe both failed
in their gatekeeper roles related to several client accounts. The
hearing will also consider allegations that Mr. Myatovic failed in his
know-your-client obligations and that Ms. Lowe engaged in unauthorized
trading in a client account.
The hearing is open to the public, unless the Hearing Panel orders
November 14, 2011, 10:00 a.m.
Morris J. Wosk Centre for Dialogue, SFU Vancouver
Executive Room 470
580 West Hastings Street, Vancouver BC
Specifically, it is alleged that Mr. Myatovic and Ms. Lowe engaged in
conduct unbecoming and detrimental to the public interest, contrary to
IIROC Dealer Member Rule 29.1, in the following instances:
Mr. Myatovic failed in his role as gatekeeper by facilitating
manipulative or suspicious trading activity in several client accounts
by pre-arranging trades and taking instructions from an individual who
was not the account holder;
Ms. Lowe failed in her role as gatekeeper by facilitating manipulative
or suspicious trading activity in several client accounts by
pre-arranging trades and taking instructions from an individual who was
not the account holder; and
Ms. Lowe engaged in unauthorized trading in a client's account.
It is also alleged that Mr. Myatovic failed in his know-your-client
obligations, contrary to IIROC Dealer Member Rule 1300.1 (a), when he:
opened locked-in registered accounts for several clients resident in
another province, without making sufficient inquiries into the
circumstances of these accounts.
IIROC began its investigation into Mr. Myatovic's conduct in August
2008, and into Ms. Lowe's conduct in February 2009. The alleged
violations occurred between April 2008 and November 2009, when Mr.
Myatovic was a Registered Representative with the Prince George branch
of Canaccord Securities Corp. (now Canaccord Genuity Corp.) and when
Ms. Lowe was a Registered Representative with the Vancouver branch of
Research Capital Corp. (now Mackie Research Capital Corp.), both
Mr. Myatovic is currently registered as a Registered Representative with
the Prince George branch of Canaccord Genuity Corp. Ms. Lowe is
currently registered as a Registered Representative with the Vancouver
head office of Global Securities Corp., 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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