IN THE MATTER OF Konstantinos Georgakopoulos - Penalty
(a) between January and December 2004, the Respondent, at all material times a Registered Representative at Golden Capital Securities Ltd. (Golden), a Member Firm, failed to properly perform his role as gatekeeper to the capital markets and acted contrary to Association Regulation 1300.1(a) by facilitating certain transactional activity in certain client accounts without making diligent inquiries to ensure the legitimacy of the transactions in circumstances which should have called the transactional activity into question because it was peculiar, suspicious or appeared to be consistent with market manipulation, deception, or other improper market-related activity; and (b) between January and December 2004, the Respondent, at all material times a Registered Representative at Golden, a Member Firm, failed to properly perform his role as gatekeeper to the capital markets and acted contrary to Association By-Law 29.1 by failing to observe the high standards of ethics and conduct in the transaction of his business by facilitating certain transactional activity in certain client accounts without making diligent inquiries to ensure the legitimacy of the transactions in circumstances which should have called the transactional activity into question because it was peculiar, suspicious, or appeared to be consistent with market manipulation, deception, or other improper market-related activity. The Hearing Panel issued its Decision and Reasons on May 20, 2009. In a separate penalty decision dated September 7, 2009, the Hearing Panel imposed the following penalties against the Respondent: (a) suspension from approval for a period of 3 years, commencing Monday, September 14, 2009; (b) a fine of $50,000; (c) a payment of $24,576 for disgorgement of commissions; and required the Respondent to pay costs in the amount of $40,000.
IIROC formally initiated the investigation into the Respondent's conduct on
The Hearing Panel's Decisions and Reasons are 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
For further information: For further information: Warren Funt, Vice President, Western Canada, (604) 331-4750, [email protected]; Jeff Kehoe, Director, Enforcement, (416) 943-6996, [email protected]
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