TORONTO, Jan. 19 /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 Monday January 25, 2010 at Legal Transcript Services, 390 Bay Street, 11th floor, Suite 1102, Toronto, Ontario, at 10:00 am or as soon thereafter as possible, to hear evidence and submissions in the matter of John Donnelly (the "Respondent").
The 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 hearing concerns allegations that the Respondent:
1. In or about May 2004 to March 2005, the Respondent, at all material
times the Branch Manager of a Member of IIROC, failed to adequately
supervise the client account opening and activities, and to maintain
adequate supervision records of effective supervision, of two
Registered Representatives, in relation to approximately 60 client
accounts, contrary to Association Regulation 1300.2 and Policy No. 2
(now IIROC Rules 1300.2 and 2500).
The IDA formally initiated the investigation into the Respondent's conduct on October 17, 2005. It is alleged that the violations occurred when the Respondent was a Registered Representative with the Toronto Branch of First Associates Investments Inc., an IIROC-regulated firm. The Respondent is still within the industry in a registered capacity with Raymond James Ltd., an IIROC-regulated firm.
The hearing is open to the public, unless the Hearing Panel orders otherwise. The Hearing Panel's decision and reasons will be made available to the public. The Notice of Hearing is available at www.iiroc.ca.
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: Alex Popovic, Vice President, Enforcement, (416) 943-6904, firstname.lastname@example.org; Jeff Kehoe, Director, Enforcement Litigation, (416) 943-6996, email@example.com