TORONTO, Sept. 5, 2013 /CNW/ - A hearing has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) in the matter of Lucy Marie Pariak-Lukic.
The hearing concerns allegations that Ms. Pariak-Lukic recommended an off-book investment to her clients without the knowledge or approval of her Dealer Member firm. The investment did not qualify for prospectus exemption and no prospectus was filed with the appropriate securities regulator.
The hearing is open to the public, unless the Panel orders otherwise. The decision of the Hearing Panel will be made available at www.iiroc.ca.
Documents related to ongoing IIROC enforcement proceedings - including Reasons and Decisions of Hearing Panels - are posted on the IIROC website as they become available. Click here to search and access all IIROC enforcement documents.
|Hearing Date:||October 23, 24, 25, 28, 29, 30, 31 and November 1, 2013, at 10:00 a.m.|
|Location:||IIROC Office, British Columbia Room|
|121 King Street West, Suite 2000|
|Specifically, the allegations are that:|
|Between 2006 and 2007, Pariak-Lukic recommended and/or facilitated off-book investments for clients|
|a) without the knowledge or approval of her employer firm; and|
|b) without ensuring that a prospectus had been filed for the investment, or that the distribution properly qualified for a prospectus exemption;|
|contrary to IDA by-law 29.1.|
IIROC formally initiated the investigation into Ms. Pariak-Lukic's conduct in January 2011. The alleged violations occurred when she was a Registered Representative with the Stoney Creek branch of yourCFO Advisory Group Inc., an IIROC regulated firm. Ms. Pariak-Lukic is currently a Registered Representative with the Stoney Creek branch of Burgeonvest Bick Securities Ltd, an IIROC regulated firm.
The Notice of Hearing which sets out the allegations is available at:
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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.
IIROC investigates possible misconduct by its member firms and/or individual registrants. It can bring disciplinary proceedings which may result in penalties including fines, suspensions and permanent bans or terminations for individuals and firms.
All information about disciplinary proceedings relating to current and former member firms is available in the Enforcement section of the IIROC website. Background information regarding the qualifications and disciplinary history, if any, of advisors currently employed by IIROC-regulated firms is available free of charge through the IIROC AdvisorReport service. Information on how to make investment dealer, advisor or marketplace-related complaints is available by calling 1 877 442-4322.
SOURCE: Investment Industry Regulatory Organization of Canada (IIROC) - General News
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