VANCOUVER, April 24, 2012 /CNW/ - A hearing has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) in the matter of Douglas Michael Warkentin.
The hearing concerns allegations Mr. Warkentin falsified a personal account statement from CIBC Wood Gundy, which he then submitted to his firm Wellington West Capital Inc. as part of a leveraged loan account application. Mr. Warkentin also failed to disclose the existence of the CIBC Wood Gundy account to Wellington West.
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:||10:00 a.m., May 23-24, 2012|
|| Delta Winnipeg
350 St. Mary Avenue, Winnipeg, Man.
Specifically, the allegations are:
|(a)||In January 2011, Mr. Warkentin created a falsified document, which he submitted to his employer with the intention the document be acted upon as genuine, contrary to Dealer Member Rule 29.1;|
|(b)||In January 2011, Mr. Warkentin made misleading statements to his employer, contrary to Dealer Member Rule 29.1;|
|(c)|| From October 2009 to January 2011 Mr. Warkentin failed to disclose to his employer the existence of a personal account he held at CIBC Wood Gundy, contrary to Dealer Member Rule 29.1.
IIROC formally initiated the investigation into Mr. Warkentin's conduct in May 2011. The alleged violations occurred when he was a Registered Representative with a Winnipeg branch of Wellington West Capital Inc., an IIROC-regulated firm. Mr. Warkentin is not currently 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, Western Canada
Director, Public Affairs