TORONTO, Feb. 5, 2014 /CNW/ - A hearing has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) in the matter of Mark Steven Rotstein.
The hearing concerns allegations that Mr. Rotstein engaged in unauthorized trading in client accounts.
The 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.
|Hearing Date:||May 21 - May 23, 2014 at 10:00 a.m.|
|| IIROC Offices, British Columbia Room
121 King Street West, Suite 2000
Toronto, Ontario M5H 3T9
Specifically, the allegations are that:
In or around May and June 2012, in disregard of the Dealer Member Rules and despite disciplinary sanctions already in place for failing to observe high standards of ethics and engaging in business conduct that is unbecoming and highly detrimental to the public interest, Rotstein entered trades for at least two clients without their knowledge or authorization contrary to IIROC Dealer Member Rule 29.1.
IIROC formally initiated the investigation into Mr. Rotstein's conduct in July 2012. The alleged violations occurred when he was a Registered Representative with the Rosedale branch of Scotia Capital Inc., an IIROC-regulated firm. Mr. Rotstein is no longer a registrant with an IIROC-regulated firm.
The Notice of Hearing which sets out the allegations is available at:
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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:
Vice President, Enforcement
Senior Media and Public Affairs Specialist