IN THE MATTER OF Darcy Alan Higgs - Settlement
The subject matter of the proposed Settlement Agreement concerns allegations that:
(a) Between 2003 and 2005, the Respondent, at all materials times a Registered Representative (RR) at Haywood Securities Inc. (Haywood), a Member firm, failed to properly perform his role as gatekeeper to the capital markets and acted contrary to Rule 1300.1(a) (then Regulation 1300.1(a)) by failing to use due diligence to learn and remain informed of the essential facts relative to the transactions of a particular issuer in a group of client accounts; (b) Between 2003 and 2005, the Respondent, at all material times an RR at Haywood, a Member firm, effected trades in the accounts of clients based on the instructions of a third party without the existence of a duly executed trading authorization, contrary to Rule 200.1(i)(3) (then Regulation 200.1(i)(3)).
IIROC formally initiated the investigation into the Respondent's conduct in
The hearing is not open to the public unless and until the Settlement Agreement has been accepted by the Hearing Panel. If the Hearing Panel accepts the Settlement Agreement, 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
For further information: For further information: Warren Funt, Vice President, Western Canada, (604) 331-4750, [email protected]; Jeff Kehoe, Director, Enforcement, (416) 943-6996, [email protected]
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