TORONTO, Feb. 3 /CNW/ - A Hearing Panel of the Investment Industry
Regulatory Organization of Canada (IIROC) has scheduled a hearing to
consider evidence and submissions in the matter of Christos Orestes
The hearing concerns allegations that Mr. Ilias failed to fully advise a client about the fees
associated with an investment he was recommending.
10:00 am, April 19 and 20, 2011
JPR Meeting Rooms, 390 Bay Street, 3rd Floor
The hearing is open to the public, unless the panel orders otherwise.
The panel's decision will be made available at www.iiroc.ca.
In particular, it is alleged that Mr. Ilias engaged in conduct
unbecoming and detrimental to the public interest, contrary to IIROC Rule 29.1, by recommending a mutual fund investment to his clients, a married
couple with a joint account, but failing to advise them that they would
have to pay an early redemption fee if they decided to sell before a
The alleged violations occurred in or about July 2007, while Mr. Ilias
was a Registered Representative with the Carlisle, Ontario branch of
Edward Jones, an IIROC-regulated firm. IIROC began its formal
investigation into Mr. Ilias' conduct in August 2008. He is currently
employed at the Carlisle branch of Edward Jones.
* * *
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 and permanent bans or
terminations 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.
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.
SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - General News
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