IIROC announces settlement hearing for Robert Werner Schiesser and Jeffrey Roderick McCrimmon

VANCOUVER, Nov. 29, 2011 /CNW/ - A hearing has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC), to consider whether the Hearing Panel should accept the Settlement Agreements entered into between Staff of IIROC, Robert Werner Schiesser, and Jeffrey Roderick McCrimmon.

Mr. Schiesser's proposed Settlement Agreement concerns allegations that he had clients participate in an off-book private placement, and that he failed to disclose an indirect financial interest in the private placement.

Mr. McCrimmon's proposed Settlement Agreement concerns allegations that while acting as Mr. Schiesser's associate, he facilitated the participation of clients in the off-book private placement.

The hearing is not open to the public unless and until the Settlement Agreements have been accepted by the Hearing Panel. If the Hearing Panel accepts the Settlement Agreements, the Hearing Panel's decision and reasons, together with the Settlement Agreements, will be made available to the public at www.iiroc.ca.

Hearing Date:  Friday, December 9, 2011 at 10:00 a.m.

Calgary Telus Convention Centre
Room:  Telus 104
Calgary, Alberta

IIROC formally initiated the investigation into Mr. Schiesser and Mr. McCrimmon's conduct in October 2008.  It is alleged that the violations occurred when Mr. Schiesser and Mr. McCrimmon were Registered Representatives with the Calgary branch of Canaccord Genuity Corp.  Mr. Schiesser and Mr. McCrimmon are now registered in that capacity at the Calgary branch of Raymond James Ltd., 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:

Warren Funt
Vice President, Western Canada
604 331-4750
                                                                                            Elsa Renzella
Director, Enforcement Litigation
416 943-5877



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