IIROC announces disciplinary hearing for Todd William Stefiuk

CALGARY, Jan. 31 /CNW/ - A Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) has scheduled a hearing to determine whether it should accept a Settlement Agreement between IIROC staff and Todd William Stefiuk.

The proposed Settlement Agreement concerns allegations that Mr. Stefiuk failed to disclose certain outside business activities to his firm, and that he had clients participate in an off-book private placement.

The hearing is not open to the public unless and until the panel accepts the Settlement Agreement. If the agreement is accepted, the panel's decision and reasons, together with the Settlement Agreement, will be made available at www.iiroc.ca.

Hearing Date:  February 14, 2011, 10 am
Location:   Calgary Telus Convention Centre, Room Telus 104
120 - 9 Avenue SE, Calgary, AB

IIROC began its formal investigation into Mr. Stefiuk's conduct on February 19, 2009. The alleged violations occurred when he was a Registered Representative with the Calgary branch of MGI Securities Inc., an IIROC-regulated firm. Mr. Stefiuk is no longer registered with an IIROC-regulated firm.

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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

For further information:

Warren Funt
Vice President, Western Canada
    Elsa Renzella
Director, Enforcement Litigation

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