CALGARY, June 14, 2016 /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 Walter Nick Silicz.
The discipline hearing concerns allegations that Mr.Silicz failed to effectively exercise supervisory responsibilities over Registered Representative Donald Earl Phillips.
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:
June 20, 2016 at 12:00 p.m.. CT, via conference call
For general public:
Radisson Hotel Winnipeg
12th Floor, Ambassador G
288 Portage Avenue
Specifically, the allegation is that:
Between December 2005 and October 2008, Mr. Silicz as Branch Manager failed to adequately supervise certain client accounts at his branch, Contrary to IIROC Dealer Member Rules 1300.2 and 2500 (Investment Dealer Association by-law 1300.2 and Policy No. 2, prior to June 1, 2008).
IIROC formally initiated the investigation into Mr. Silicz's conduct in August 2013. The alleged violations occurred while he was a Branch Manager with the Winnipeg branch of Wellington West Capital Inc., a former IIROC-regulated firm. Mr. Silicz is currently a Registered Representative at the Winnipeg branch of National Bank Financial Ltd., an IIROC-regulated firm.
The Notice of Hearing which sets out the allegations is available at: http://www.iiroc.ca/Documents/2016/6cf41879-59a0-4ac4-b2e8-32c18f0633d6_en.pdf.
* * *
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: Karen Archer, Manager, Media Relations, 416 865-3046, [email protected]