IN THE MATTER OF David Francis Shep - Motion

    TORONTO, June 4 /CNW/ - Following a motion hearing held on May 4, 2009,
in Toronto, Ontario, a Hearing Panel of the Investment Industry Regulatory
Organization of Canada ("IIROC") ordered the following in the matter of David
Francis Shep (the "Respondent"):

    (a)    The matter will be adjourned sine die returnable before the
           Hearing Panel within 20 days of the release of the decision of the
           Ontario Court of Appeal in the Taub matter.

    The proposed hearing concerns matters for which the Respondent may be
disciplined as a Regulated Person of IIROC, pursuant to Part 10 of IIROC
Dealer Member Rule 20.
    The IDA formally initiated the investigation into the Respondent's
conduct on August 12, 2004. It is alleged that the violations occurred when
the Respondent was a Registered Representative with the Toronto Branch of
Desjardins Securities Inc. The Respondent is no longer a registrant with an
IIROC-regulated firm.
    The Hearing Panel issued its Decision and Reasons on May 25, 2009. The
Hearing Panel's Decision and Reasons are available at

    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

For further information:

For further information: Jeff Kehoe, Director, Enforcement, (416)
943-6996,; Connie Craddock, Vice-President, Public Affairs,
(416) 943-5870,

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