TORONTO, March 14, 2012 /CNW/ - A hearing has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) in the matter of Darlene Catherine Ryan.
The hearing concerns allegations that Ms. Ryan misappropriated approximately $1.5 million from five clients, including several elderly clients, by engaging in manipulative, fraudulent and deceptive practices which included the forgery of client signatures.
The hearing is open to the public, unless the panel orders otherwise. The decision of the panel will be made available at www.iiroc.ca. Documents related to ongoing IIROC enforcement proceedings - including Reasons and Decisions of Hearing Panels - are posted on the IIROC website as they become available. Click here to search and access all IIROC enforcement documents.
|Hearing Date:||March 30, 2012 at 10:00 a.m.|
|| Petitcodiac Room, Delta Beausejour,
750 Main St.
Specifically, the allegations are that:
|(a)||Between March 2005 and July 2010, Ms. Ryan misappropriated on 31 separate occasions, approximately $1.5 million from five clients, contrary to IDA By-law 29.1 and Dealer Member Rule 29.1.|
IIROC formally initiated the investigation into the Ms. Ryan's conduct in October 2010. The alleged violations occurred when she was a Registered Representative with the Moncton, NB branch of Scotia Capital Inc., an IIROC-regulated firm. Ms. Ryan is no longer a registrant with an IIROC-regulated firm.
The Notice of Hearing which sets out the allegations is available at
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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.
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, permanent bars, expulsion from membership, or termination of rights and privileges 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.
For further information:
Vice President, Enforcement
Director, Public Affairs