VANCOUVER, Oct. 27 /CNW/ - Following a motion hearing held on October 2,
2008, in Vancouver, British Columbia, a Hearing Panel of the Investment
Industry Regulatory Organization of Canada ("IIROC") ordered that a temporary
stay be issued in this matter until the release of the decision of the British
Columbia Court of Appeal in Dass v. Investment Dealers Association of Canada.
The Panel directed that following the release of the Dass decision the parties
arrange to appear in front of them to determine the next steps in the process.
The proposed hearing concerns matters for which the Respondent may be
disciplined as a Regulated Person of IIROC pursuant to "Part 10 of IIROC
Dealer Member Rule 20".
IIROC formally initiated the investigation into the Respondent's conduct
on December 20, 2007. The alleged violations occurred when the Respondent was
a Registered Representative with the 900-700 West Georgia Street Branch of
Union Securities Ltd. The Respondent is no longer registered in any capacity
with an IIROC Dealer Member.
The Hearing Panel issued its Decisions and Reasons on October 2, 2008.
The Hearing Panel's Decision and Reasons are available at www.iiroc.ca.
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: Warren Funt, Vice President, Western Canada,
(604) 331-4750 or email@example.com; Jeff Kehoe, Director, Enforcement, (416)
943-6996 or firstname.lastname@example.org