In the matter of Stephen Taub - Appeal

    TORONTO, July 16 /CNW/ - The May 17, 2007 decision of a panel of the
Ontario Securities Commission ("OSC") in the matter of Stephen Taub was heard
by the Ontario Divisional Court on December 7, 2007.
    The Ontario Divisional Court released its decision on July 15, 2008
allowing the appeal. To obtain a copy of the court decision, please contact
the Ontario Divisional Court
    The Investment Industry Regulatory Organization of Canada ("IIROC")
intends to seek leave to appeal the decision to the Ontario Court of Appeal.
    The Ontario Securities Commission's decision and reasons are available at

    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

For further information:

For further information: Alex Popovic, Vice President, Enforcement,
(416) 943-6904 or; Andrew Werbowski, Enforcement Counsel,
(416) 943-5789 or

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