VANCOUVER, Jan. 21 /CNW/ - A Hearing Panel of the Investment Industry
Regulatory Organization of Canada (IIROC) has accepted a settlement
agreement between IIROC staff and Gateway Securities Inc. that results
in Gateway's expulsion from IIROC membership.
In the agreement Gateway admits it failed to meet IIROC's minimum capitalization
requirement, contrary to IIROC Rule 17.1. Gateway's membership had been suspended since March 20, 2009. When issued, the panel's Reasons for Decision
will be made public on IIROC's website at www.iiroc.ca.
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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
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