TORONTO, Nov. 25 /CNW/ - Following a motion hearing held on November 5, 2009, in Toronto, Ontario, a Hearing Panel of the Investment Industry Regulatory Organization of Canada ("IIROC") was advised that the motion had been resolved by agreement amongst respondent's counsel and IIROC staff on terms of settlement in the matter of John Donnelly (the "Respondent") including the following:
1. IIROC Staff will provide ongoing support to resolve issues with
electronic disclosure identified by Mr. Donnelly;
2. IIROC Staff will compel two Registered Representatives whom Mr.
Donnelly supervised to attend on a cross examination by counsel for
3. IIROC Staff will compel one of the Registered Representatives whom
Mr. Donnelly supervised to review certain materials for privilege.
The proposed 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.
IIROC 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 Branch Manager with the Toronto Branch of Blackmont Capital Inc. The Respondent is currently a registrant with Raymond James Ltd., an IIROC-regulated firm.
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, email@example.com; Jeff Kehoe, Director, Enforcement Litigation, (416) 943-6996, firstname.lastname@example.org