VANCOUVER, March 22 /CNW/ - Notice is hereby given that a hearing will be held before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC), on Tuesday, November 23, 2010, at Reportex Agencies Ltd., located at 925 West Georgia Street, Suite 1010, Vancouver, BC, at 10:00 a.m. or as soon thereafter as possible, to hear evidence and submissions in the matter of Bryan Dale Claggett (the Respondent).
The hearing concerns matters for which the Respondent may be disciplined as an Approved Person of IIROC, pursuant to Part 10 of IIROC Dealer Member Rule 20.
The hearing concerns allegations that:
(a) Between November 2005 and November 2007, inclusive, (the Relevant
Period) the transactions effected by the Respondent in multiple
client accounts while employed at BMO Nesbitt Burns Inc. (BMO), a
Member firm, were discretionary and without the prior written
authorization of the respective clients and without the accounts
being specifically approved and accepted as discretionary accounts,
contrary to Regulation 1300.4 (now Dealer Member Rule 1300.4); and
(b) On or about February 9, 2006, the Respondent paid $14,000 to his
client WB in an attempt to settle WB's complaint without the prior
knowledge and approval of his employer, BMO, and he thereby engaged
in conduct unbecoming and detrimental to the public interest,
contrary to By-law 29.1 (now Dealer Member Rule 29.1).
IIROC formally initiated the investigation into the Respondent's conduct on February 10, 2008. The alleged violations occurred when the Respondent was a Registered Representative (RR) with the 1800-885 West Georgia Street, Vancouver Branch of BMO, an IIROC-regulated firm. The Respondent is currently an RR with the 2200-609 Granville Street, Vancouver head office of Canaccord Financial Ltd., an IIROC-regulated firm.
The Notice of Hearing is available at www.iiroc.ca. The hearing is open to the public, unless the Hearing Panel orders otherwise. The Hearing Panel's decision and reasons will be made available to the public.
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: For further information: Warren Funt, Vice President, Western Canada, (604) 331-4750, email@example.com; Jeff Kehoe, Director, Enforcement Litigation, (416) 943-6996, firstname.lastname@example.org