VANCOUVER, June 17, 2013 /CNW/ - An appearance has been scheduled before
a Hearing Panel of the Investment Industry Regulatory Organization of
Canada (IIROC) for the purpose of setting a date for the disciplinary
hearing in the matter of Traian Moldovan and Robert Bruce Holmes.
The discipline hearing concerns allegations that Mr. Moldovan and Mr.
Holmes both failed to use due diligence to learn and remain informed of
the essential facts relative to every order accepted and to ensure that
recommendations were suitable for their clients.
The set date appearance is open to the public, unless the Hearing Panel
orders otherwise. The date for the discipline hearing will be made
available at www.iiroc.ca.
Documents related to ongoing IIROC enforcement proceedings - including
Reasons and Decisions of Hearing Panels - are posted on the IIROC
website as they become available. Click here to search and access all IIROC enforcement documents.
Set Date Appearance:
Tuesday, June 25, 2013, at 10:00 a.m.
Reportex Agencies Ltd.
925 West Georgia Street, Suite 1010
Specifically, the allegations are that:
a) From September to October 2008, Mr. Moldovan and Mr. Holmes failed
to use due diligence to learn and remain informed of the essential
facts relative to every order accepted, contrary to IIROC Dealer Member
Rule 1300.1(a); and
b) From September to October 2008, Mr. Moldovan and Mr. Holmes failed
to use due diligence to ensure that recommendations were suitable for
their clients, contrary to IIROC Dealer Member Rule 1300.1(q).
IIROC formally initiated the investigation into Mr. Moldovan's conduct
in July 2009 and into Mr. Holmes' conduct in August 2009. The alleged
violations occurred when Mr. Moldovan and Mr. Holmes were Registered
Representatives with the Kelowna branch of Canaccord Genuity Corp., an
IIROC-regulated firm. Mr. Moldovan is no longer a registrant with an
IIROC-regulated firm. Mr. Holmes is currently a Registered
Representative with the Kelowna branch of Wolverton Securities Ltd., an
The Notice of Hearing which sets out the allegations 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.
IIROC Notice 13-0167 Enforcement Notice/News Release - In the Matter of
Traian Moldovan and Robert Bruce Holmes - Appearance to set a hearing
SOURCE: Investment Industry Regulatory Organization of Canada (IIROC) - General News
For further information:
Vice President, Western Canada
Senior Media and Public Affairs Specialist