TORONTO, Sept. 26 /CNW/ - The Investment Dealers Association of Canada
(IDA) announced today that a hearing will be held before a Hearing Panel
appointed pursuant to By-law 20 in respect of discipline penalties which may
be imposed upon Mr. Chak (Jason) Ng, at all material times a Registered
Representative at the Toronto York Street branch office of HSBC Securities
(Canada) Inc., an IDA Member firm.
Following a decision of the Hearing Panel, Mr. Ng has been found guilty
of violating By-law 29.1 for unknowingly facilitating a market manipulation in
the stock of Pender International Inc. (Pender). The Hearing Panel also found
that Mr. Ng violated Regulation 200.1(i)(3) by taking instructions for various
accounts from Michael Mitton, the perpetrator of the manipulation,
notwithstanding that Mr. Mitton had no trading authorization over those
accounts. The Hearing Panel also stayed a charge that Mr. Ng had violated
Regulation 1300.1(a) because it determined that offence to be included in the
violation of By-law 29.1 described above.
Mr. Ng is currently a Registered Representative at the Toronto Head
Office of Research Capital Corporation, an IDA Member firm.
The hearing is scheduled to commence at 10:00 a.m. on Wednesday, December
5, 2007, at the offices of Legal Transcript Services, 111 Richmond Street
West, Suite 1500, Toronto, Ontario. The hearing is open to the public except
as may be required for the protection of confidential matters. Copies of the
decision of the Hearing Panel will be made available.
The Investment Dealers Association of Canada (IDA) is the national
self-regulatory organization of the securities industry. The IDA's mission is
to protect investors, foster market integrity and enhance the efficiency and
competitiveness of the Canadian capital markets. The IDA enforces rules and
regulations regarding the sales, business and financial practices of its
Member firms and their approved persons. Investigating complaints and
disciplining Members and approved persons is part of the IDA's regulatory
For further information:
For further information: Alex Popovic, Vice-President, Enforcement,
(416) 943-6904 or email@example.com; Connie Craddock, Vice-President, Public
Affairs, (416) 943-5870 or firstname.lastname@example.org