IN THE MATTER OF Sarkis Sarkissian - Penalty

MONTRÉAL, Nov. 25 /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 Tuesday December 8, 2009, at 9:00 a.m. or as soon thereafter as possible, at l'Ordre des pharmaciens du Québec, 266 Notre-Dame Street East, Suite 301, Montréal, Québec, to determine the penalties to be imposed in the matter of Sarkis Sarkissian (the "Respondent").

The hearing concerns matters for which the Respondent may be disciplined as a Registrant of the IDA, pursuant to IIROC Dealer Member Rule 20.

The sanctions to be imposed pertain to findings that the Respondent has been found guilty of Counts 1 to 44, which, for purposes of this notice, have been grouped as follows:

    
    -------------------------------------------------------------------------
    Counts 1 to 5     Failure to learn and remain informed of the essential
                      facts relative to his clients
    -------------------------------------------------------------------------
    Counts 6 to 13    Transactions not permitted under the terms of the
     and 23 to 39     approval granted by IIROC to the Respondent as a
                      registered representative (mutual funds)
    -------------------------------------------------------------------------
    Counts 14 to 17   Failure to use due diligence when accepting
                      instructions given by an agent
    -------------------------------------------------------------------------
    Counts 18 to 22   Participation in a scheme
     and 40
    -------------------------------------------------------------------------
    Counts 41 and 42  Off-book transactions not recorded in the books of
                      iForum
    -------------------------------------------------------------------------
    Counts 43 and 44  Failure to provide the information required by IIROC
    -------------------------------------------------------------------------
    

IIROC initiated the investigation into the Respondent's conduct in November 2005. The violations occurred while the Respondent was a registered representative (mutual funds) at the Montréal branch of iForum Securities Inc. Mr. Sarkissian has not been employed with an IIROC-regulated firm since August 10, 2006.

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.

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, ccrepin@iiroc.ca; Jeff Kehoe, Director, Enforcement Litigation, (416) 943-6996, jkehoe@iiroc.ca


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