MONTRÉAL, Jan. 13 /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 Wednesday, February 3, 2010, at 10:00 a.m. or as soon thereafter as possible, at IIROC, at 5 Place Ville-Marie, Suite 1550, Montréal, Québec, to consider whether, pursuant to IIROC Dealer Member Rule 20.36, the Hearing Panel should accept the Settlement Agreement between Staff of IIROC and Patrick Larkin Belland (the Respondent).
The subject matter of the proposed Settlement Agreement concerns the allegation that:
(a) On or about March 9, 2005, the Respondent engaged in conduct
unbecoming and detrimental to the public interest, contrary to IDA
By-law 29.1, when he effected a transaction in securities in his
brokerage account based on information received from PC, when he
knew, or should have known, that such information constituted or
could constitute privileged non-public information and that he could
not engage in trading based on such inside information.
IIROC formally initiated the investigation into the Respondent's conduct on August 27, 2008. The Respondent was and remains a Registered Representative with the Montréal Branch of Brockhouse & Cooper 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 marketplaces.
SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - General News
For further information: For further information: Carmen Crépin, Vice President, Québec, (514) 878-2854, email@example.com; Jeff Kehoe, Director, Enforcement Litigation, (416) 943-6996, firstname.lastname@example.org