IIROC announces discipline and penalty against Jamie Seong Il Park

TORONTO, April 27 /CNW/ - A Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) has imposed a permanent ban from registration in any capacity with an IIROC-regulated firm on James Seong Il Park for failing to cooperate in an IIROC investigation.

The penalty also includes a $25,000 fine and a requirement for Mr. Park to pay costs of $15,000. The panel's Decision and Reasons are available on the IIROC website.

The panel found that Mr. Park refused and/or failed to attend at an interview and give information as part of an IIROC investigation into his conduct, contrary to IIROC Rule 19.5.

IIROC began the investigation into Mr. Park's conduct in April 2009 after being alerted to the matter as the result of an internal investigation by his member firm.  The violation of Rule 19.5 occurred when Mr. Park was a former Registered Representative with a Toronto branch of TD Waterhouse Inc.  He is no longer registered with an IIROC-regulated firm.

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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
416 943-5877


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