VANCOUVER, June 14 /CNW/ - Notice is hereby given that a hearing will be held before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC), on Wednesday, June 23, 2010, at UBC Robson Square, located at 800 Robson St. Vancouver, BC, at 2:00 p.m. or as soon thereafter as the hearing can be held, to consider whether, pursuant to section 20.36 of Investment Dealers Association (IDA) By-law 20, the Hearing Panel should accept a Settlement Agreement entered into between Staff of IIROC and Hung Fai Raymond Kwok (the Respondent).
The proposed Settlement Agreement concerns an allegation that while employed as a registered representative, the Respondent personally compensated three of his clients, without the knowledge or consent of his employer, contrary to IDA By-Law 29.1 (now IIROC Dealer Member Rule 29.1).
IIROC formally initiated the investigation into the Respondent's conduct on November 3, 2009. The violations occurred when the Respondent was a registered representative with a Vancouver area office of HSBC Securities (Canada) Inc. The Respondent is no longer a registrant with an IIROC-regulated firm.
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 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.
SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - General News
For further information: For further information: Warren Funt, Vice President, Western Canada, 604.331.4750, email@example.com; Jeff Kehoe, Acting Vice President, Enforcement, 416 943.6996, firstname.lastname@example.org