VANCOUVER, Feb. 7, 2012 /CNW/ - A hearing has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) in the matter of David Hoang.
The hearing concerns allegations that Mr. Hoang accepted orders to sell OTC Bulletin Board securities in British Columbia from off-shore institutional clients without making any effort to determine the beneficial owner of those securities. Mr. Hoang is also alleged to have concealed information required for IIROC's investigation and failed to attend a second IIROC interview to give additional information in respect of an ongoing investigation.
The hearing is open to the public, unless the panel orders otherwise. 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 13, 2012 at 10:00 a.m.|
|Location:||Reportex Agencies Ltd.|
|925 West Georgia Street, Suite 1010|
Specifically, the allegations are that:
|1)||Between February 23, 2009 and August 14, 2009, while employed as a Registered Representative at First Canada Capital Partners Inc., Mr. Hoang failed to comply with British Columbia Interpretation Note 33-705 made under the Securities Act, contrary to Dealer Member Rule 29.1.|
|2)||On or about June 16, 2010, Mr. Hoang did not respond truthfully or completely to questions posed to him during the course of staff's investigation into the circumstances relating to Count 1, thereby concealing information reasonably required for staff's investigation, contrary to Dealer Member Rule 19.6, and engaging in conduct unbecoming and detrimental to the public interest, contrary to Dealer Member Rule 29.1.|
|3)||On or about March 30, 2011, Mr. Hoang failed to attend and give additional information in respect of an investigation being conducted by staff, contrary to Dealer Member Rule 19.5.|
IIROC formally initiated the investigation into Mr. Hoang's conduct in July 2010. The alleged violations occurred when he was a Registered Representative with the Vancouver, B.C. branch of First Canada Capital Partners Inc., an IIROC-regulated firm. Mr. Hoang is no longer a registrant with an IIROC-regulated firm.
The Notice of Hearing which sets out the allegations is available at http://docs.iiroc.ca/DisplayDocument.aspx?DocumentID=EDE65A2FCCC448C69591C7792FA35C28&Language=en
* * *
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, Western Canada
Director, Public Affairs