TORONTO, March 9 /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 Monday, March 15, 2010 at Legal Transcript Services, located at 390 Bay St., 11th floor, Toronto, Ontario, at 9:00 a.m. or as soon thereafter as possible, to determine the penalty to be imposed in the matter of Tony D'Ugo (the "Respondent").
The proposed hearing concerns matters for which the Respondent will be disciplined as a Regulated Person of IIROC, pursuant to section 10.5 of IIROC Market Integrity Rules - UMIR.
The penalty imposed will pertain to the following allegations which have been admitted by the Respondent:
(a) During the period January 21, 2008 to February 13, 2008, the
Respondent, while a Registered Representative at BMO InvestorLine
Inc. (BMOIL), entered orders and executed trades in COV for a client
and his associates that he knew, or ought to have known, would
create, or could reasonably be expected to create, an artificial
price and/or bid for the security contrary to UMIR 2.2(2)(b), 10.4(1)
and 10.16(1)(b); and
(b) During the period January 21, 2008 to February 13, 2008, the
Respondent, while a Registered Representative at BMOIL, accepted
trading instructions in respect of three client accounts from a
person not authorized in writing to provide such instructions for
those accounts, contrary to UMIR 2.1(1) and 10.4(1).
IIROC formally initiated the investigation into the Respondent's conduct in June 2008. The violations occurred when the Respondent was a Registered Representative at the Toronto branch of BMO InvestorLine Inc., an IIROC-regulated firm. The Respondent is no longer a registrant with an IIROC-regulated firm.
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: Alex Popovic, Vice President, Enforcement, (416) 943-6904, email@example.com