Enforcement Notice - Hearing - IN THE MATTER OF Gennaro Scerbo - Appearance to set a hearing date

WINNIPEG, Sept. 26, 2017 /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 Gennaro Scerbo.

The discipline hearing concerns allegations that Mr. Scerbo forged his spouse's signature on account documents in order to misappropriate funds from her investment account. In addition, it is alleged that Mr. Scerbo also failed to cooperate with an IIROC investigation.

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.

Hearing Date: November 9, 2017 at 10:00 a.m.

Location: Radisson Hotel Winnipeg – Terrance, 288 Portage Avenue Winnipeg, Manitoba

Specifically, the allegations are that:

1. Between approximately June 2010 and September 2014, Mr. Scerbo forged his spouse's signature on account documents in order to misappropriate funds from her investment account, contrary to Dealer Member Rule 29.1
   
   
2. In May 2017, Mr. Scerbo failed to cooperate with an IIROC investigation by failing to attend a compelled interview, contrary to section 8104 of the Consolidated Rules.

IIROC formally initiated the investigation into Mr. Scerbo's conduct in June 2016. The alleged violations occurred while he was a Registered Representative with the Winnipeg branch of RBC Dominion Securities Inc., an IIROC-regulated firm. Mr. Scerbo is no longer a registrant with an IIROC-regulated firm.

The Notice of Hearing and Statement of Allegations which sets out the allegations is available at:
http://docs.iiroc.ca/DisplayDocument.aspx?DocumentID=FD1494D74BD5400F93F2C9E51EAF4B08&Language=en

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 debt and 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

Enforcement Contact: Warren Funt, Vice-President, Western Canada, 604-331-4750, [email protected]; Media Contact: Paul Howard Directo, Communications & Public Affairs, 416 646-7279, [email protected]

Related Links

http://www.iiroc.ca