TORONTO, Jan. 18, 2012 /CNW/ - A hearing was held on January 17, 2012
before a Hearing Panel of the Investment Industry Regulatory
Organization of Canada (IIROC) in the matter of Barret Capital
According to the terms of an adjournment Order by the Panel at the
hearing, Barret is restricted to carrying out liquidating or closing
trades in all securities and from opening any new client accounts
except for trading in physical metals, which is permitted subject to
certain restrictions. Full terms of the Panel Order are available at
The Panel has not yet made any findings or determinations as to any
misconduct on the part of Barret. The expedited hearing is adjourned to
February 13, 2012.
The Expedited Hearing is open to the public, unless the panel orders
otherwise. Details as to the location for the Expedited Hearing will
be posted once confirmed.
IIROC formally initiated an investigation into the conduct of Barret
Capital Management Inc. in March 2011. The grounds for IIROC staff's
application are set out in the Notice of Application dated January 10,
The Notice of Application is available at
* * *
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.
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, permanent bars,
expulsion from membership, or termination of rights and privileges 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.
SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - General News
For further information:
| Enforcement Contact: |
Vice President, Enforcement
| || || || Media Contact: |
Director, Public Affairs