WINNIPEG, Sept. 10, 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 Edward Peter Bodnarchuk.
The Hearing Panel will consider the penalty to be imposed as a result of their decision dated June 22, 2018, which found Bodnarchuk failed to know two clients, made unsuitable recommendations, engaged in discretionary trading, and failed to notify his employer of an existing, or potential, conflict of interest – contrary to IIROC Dealer Member Rules 1300.1 (a), 1300.1(q), 1300.4, and 29.1.
The Hearing Panel's liability decision is available at: https://docs.iiroc.ca/DisplayDocument.aspx?DocumentID=F6BAD8F0E86C45898FE5AE7B7838998B&Language=en
IIROC formally initiated the investigation into Mr. Bodnarchuk's conduct in October 2013. The violations occurred while he was a Registered Representative with the Winnipeg branch of National Bank Financial Ltd., and the Winnipeg branch of PI Financial Corp., both of which are IIROC-regulated firms. Mr. Bodnarchuk is no longer a registrant with an IIROC-regulated firm.
Hearing Date: September 13, 2018 at 10:00 a.m.
Location: Radisson Hotel Winnipeg Ambassador C, 11th Floor 288 Portage Avenue Winnipeg, MB
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.
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.
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: Warren Funt, Vice-President, Western Canada, 604 331-4750, [email protected]; Media Contact: Andrea Zviedris, Manager, Media Relations, 416 943-6906, [email protected]