TORONTO, May 14, 2013 /CNW/ - The Investment Industry Regulatory Organization of Canada (IIROC) announced today the appointment of Ernst & Young Inc. (the "Administrator") to administer the distribution of funds to eligible investors who purchased third-party Asset-Backed Commercial Paper issued by Coventree Inc. (Coventree ABCP) from Deutsche Bank Securities Ltd. (DBSL) between July 25, 2007 and August 10, 2007.
This appointment will facilitate IIROC's distribution of approximately $1,000,000 directly to investors who purchased Coventree ABCP from DBSL during this time period.
The funds were collected in an enforcement settlement agreed to by DBSL. IIROC has determined eligibility criteria based primarily on the facts set out in the settlement agreement with DBSL.
The Administrator will begin contacting potentially eligible investors by mail this month with details regarding criteria for eligibility to participate in the distribution and the distribution process. Eligible investors will be required to submit a completed participation form to the Administrator by July 31, 2013. The intent is to distribute the funds directly to eligible investors by September 30, 2013 after the allocation is determined.
Additional information and eligibility requirements are available in materials posted by the Administrator online at www.ey.com/ca/IIROC-ABCP. Any investor questions on the distribution should be addressed directly to the Administrator at:
ERNST & YOUNG INC.
Phone (toll-free): 1-855-941-1797
For Investor Inquiries:
IIROC Complaints and Inquiries Centre
1-877-422-4322 (Toll Free)
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 by creating and enforcing rules regarding the proficiency, business and financial conduct of dealer firms and their registered employees and through the creation and enforcement of market integrity rules regarding trading activity on Canadian marketplaces.
SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - General News