TORONTO, Jan. 30, 2018 /CNW/ - A penalty hearing has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) in the matter of Aidin Sadeghi.
The Hearing Panel will consider the penalty to be imposed as a result of its decision dated January 4, 2018, which found that the Mr. Sadeghi acted contrary to Universal Market Integrity Rule ("UMIR") 2.2(2) and UMIR Policy 2.2, for which he is liable under UMIR 10.4(1). Mr. Sadeghi was found to have entered orders that he knew, or ought reasonably to have known, would create, or could reasonably be expected to create, a false or misleading appearance of trading activity in or interest in the purchase or sale of the securities.
The Hearing Panel's liability decision is available at: http://docs.iiroc.ca/DisplayDocument.aspx?DocumentID=43D7B902F6DF493C8C1A2224F06C11E5&Language=en
The penalty hearing is open to the public, unless the Hearing Panel orders otherwise. The decision of the Hearing Panel will be made available at www.iiroc.ca.
IIROC formally initiated the investigation into Mr. Sadeghi's conduct in May 2013. The violations occurred while he was a Registered Representative and proprietary trader with W.D. Latimer Co. Ltd., an IIROC-regulated firm. Mr. Sadeghi is currently employed with W.D. Latimer Co. Ltd.
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.
Hearing Date: March 5, 2018 at 10:00 a.m.
Location: IIROC, 121 King Street West, Suite 2000, Toronto, Ontario
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IIROC is the national self-regulatory organization which oversees all investment dealers and their trading activity in Canada's debt and equity markets. IIROC sets high quality regulatory and investment industry standards, protects investors and strengthens market integrity while supporting healthy Canadian 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: Charles Corlett, Director, Enforcement Litigation, 416 646-7253, [email protected]; Media Contact: Andrea Zviedris, Manager, Media Relations, 416 943-6906, [email protected]