IN THE MATTER OF Irwin Igra - Settlement

    TORONTO, May 8 /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 Tuesday May 26, 2009 at IIROC, Conference Room 1, 145 King
Street West, 9th Floor, Toronto, Ontario, at 10:00 a.m. or as soon thereafter
as the hearing can be held, to consider whether, pursuant to IIROC Dealer
Member Rule 20.36, the Hearing Panel should accept a Settlement Agreement
entered into between Staff of IIROC and Irwin Igra (the "Respondent").

    The subject matter of the proposed Settlement Agreement concerns
allegations that:

    (a)  Between January 2005 and December 2006, the Respondent failed to use
         due diligence to ensure that clients qualified as accredited
         investors in accordance with the provisions of the Ontario
         Securities Act, R.S.O. 1990, c. S. 5 (as amended) before
         facilitating the purchase of securities offered pursuant to
         prospectus exemptions, contrary to IDA Regulation 1300.1(a).

    IIROC formally initiated the investigation into the Respondent's conduct
on July 9, 2007. It was alleged that the violations occurred when the
Respondent was a Registered Representative with IPC Securities Corporation.
The Respondent is still within the industry in a registered capacity with
Wellington West Capital Inc., 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

For further information:

For further information: Alex Popovic, Vice-President, Enforcement,
(416) 943-6904,; Jeff Kehoe, Director, Enforcement, (416)

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