TORONTO, Jan. 11, 2013 /CNW/ - A penalty hearing was originally scheduled to take place before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) in the matter of Steven George Conville on December 12, 2012. At the request of Mr. Conville, the hearing was adjourned to January 16, 2013.
The penalty hearing is open to the public, unless the panel orders otherwise. The decision of the 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 Dates:||January 16 and 17, 2013 at 10:00 a.m.|
|Location:||JPR Meeting Rooms 390 Bay Street, 3rd floor - Hearing Room C Toronto, Ontario|
Following a disciplinary hearing held on February 21, 22 and 23, 2012, in Toronto, the panel found that Mr. Conville participated in and facilitated a scheme, including preparing false client account statements, to obtain a mortgage.
The Hearing Panel's decision dated June 11, 2012 is available at: http://www.iiroc.ca/Documents/2012/033fd88e-0371-4c00-9ca0-a9d51e5670cf_en.pdf.
Specifically, the panel found that Mr. Conville committed the following violations:
|Between March 2009 and May 2009, Mr. Conville participated in and facilitated a scheme in which two friends of his would obtain a mortgage based on fraudulent grounds and use the proceeds to purchase Mr. Conville's residence, thereby violating Dealer Member Rule 29.1.|
IIROC formally initiated the investigation into Mr. Conville's conduct in May 2009. It is alleged that the violations occurred when Mr. Conville was a Registered Representative with a Markham branch of Macquarie Private Wealth Inc., formerly Blackmont Capital Inc., an IIROC-regulated firm. Mr. Conville is no longer a registrant with 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 1.877.442.4322.
SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - General News