Please note that c6010 sent on Nov. 28th has been revised. Correct copy follows:
Enforcement Notice - IN THE MATTER OF Dundee Securities Corporation - Settlement Hearing
CALGARY, Dec. 3, 2013 /CNW/ - A hearing has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC), to consider whether the panel should accept a Settlement Agreement entered into between IIROC staff and Dundee Securities Corporation("Dundee").
The Agreement concerns conduct that Dundee failed to effectively exercise its supervisory responsibilities as its compliance officers approved account forms with objectives that were too risky for one client couple, and failed to make inquiries into the suitability of trades in the accounts of two client couples.
The hearing is not open to the public, but will become open in the event that the panel accepts the agreement. If the agreement is accepted, the Panel's decision and the Settlement Agreement 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:||December 4, 2013 - 10:00 a.m.|
|121 King St. W. suite 2000|
|Toronto, ON M5H 3T9|
IIROC formally initiated the investigation into Dundee's conduct in July 2010. Dundee changed its name to DWM Securities Inc., which later amalgamated with Scotia Capital Inc. Scotia Capital Inc. is an IIROC-regulated firm.
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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 1877 442-4322.
SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - General News