Enforcement Notice Hearing - IN THE MATTER OF Traian Moldovan and Robert Bruce Holmes - Discipline Hearing
VANCOUVER, Sept. 5, 2013 /CNW/ - A hearing has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) in the matter of Traian Moldovan and Robert Bruce Holmes.
The discipline hearing concerns allegations that Mr. Moldovan and Mr. Holmes both failed to use due diligence to learn and remain informed of the essential facts relative to every order accepted and to ensure that recommendations were suitable for their clients.
The hearing is open to the public, unless the Panel orders otherwise. The decision of the Hearing Panel will be made available at www.iiroc.ca.
Documents related to ongoing IIROC enforcement proceedings - including Reasons and Decisions of Hearing Panels - are posted on the IIROC website as they become available. Click here to search and access all IIROC enforcement documents.
|Hearing Date:||February 17-21, 2014, at 10:00 a.m.|
UBC Robson Square
800 Robson Street
February 17-19 - Room C400
February 20-21 - Room C485
Specifically, the allegations are that:
a) From September to October 2008, Mr. Moldovan and Mr. Holmes failed to use due diligence to learn and remain informed of the essential facts relative to every order accepted, contrary to IIROC Dealer Member Rule 1300.1(a); and
b) From September to October 2008, Mr. Moldovan and Mr. Holmes failed to use due diligence to ensure that recommendations were suitable for their clients, contrary to IIROC Dealer Member Rule 1300.1(q).
IIROC formally initiated the investigation into Mr. Moldovan's conduct in July 2009 and into Mr. Holmes' conduct in August 2009. The alleged violations occurred when Mr. Moldovan and Mr. Holmes were Registered Representatives with the Kelowna branch of Canaccord Genuity Corp., an IIROC-regulated firm. Mr. Moldovan is no longer a registrant with an IIROC-regulated firm. Mr. Holmes is currently a Registered Representative with the Kelowna branch of Wolverton Securities Ltd., an IIROC-regulated firm.
The Notice of Hearing which sets out the allegations is available at: http://docs.iiroc.ca/DisplayDocument.aspx?DocumentID=1D224FD4900049B7AA214613005BE87F&Language=en.
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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.
IIROC investigates possible misconduct by its member firms and/or individual registrants. It can bring disciplinary proceedings which may result in penalties including fines, suspensions, permanent bars, expulsion from membership, or termination of rights and privileges for individuals and firms.
All information about disciplinary proceedings relating to current and former member firms is available in the Enforcement section of the IIROC website. Background information regarding the qualifications and disciplinary history, if any, of advisors currently employed by IIROC-regulated firms is available free of charge through the IIROC AdvisorReport service. Information on how to make investment dealer, advisor or marketplace-related complaints is available by calling 1 877 442-4322.
SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - General News