A Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) has imposed penalties against five former employees of TD Securities Inc., who were found to have violated the Universal Market Integrity Rules (UMIR) by entering artificial closing bids in 323 instances over a six-month period.
A hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) has imposed penalties against Rocco Tony Cornacchia and, Northern Securities Inc., after finding that both had violated IIROC rules in the following manner: Cornacchia facilitated the participation of 12 clients in a private placement based upon an exemption for which they did not […]
IIROC currently holds over $32 million in an Externally Restricted ABCP Fund derived from fines and interest - a substantial sum of money by anybody’s standards. With IIROC expected to settle the disposition of the fund later this year, investors, advisors and legislators should consider the issues surrounding this fund and determine whether legislative and procedural changes are needed.
A hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) has imposed a penalty against David Bruce Connacher that includes a $500,000 fine, a lifetime prohibition from seeking re-registration with an IIROC-regulated firm, and $71,315.50 in costs. The penalty follows the panel’s earlier decision, dated April 20, 2011which found that Connacher had violated […]
A hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) has accepted a settlement agreement, with sanctions, between IIROC staff and Konstantinos Georgeos Arapis. With this agreement, Arapis admits that he had clients participate in an off-book transaction and that he failed to ensure that certain trades were within the bounds of good […]
Donald Dean Mackenzie has agreed to pay a penalty of $20,000 and accepts a three-month prohibition from seeking re-registration approval with an IIROC-regulated firm. Mr. Mackenzie has also agreed to pay $5,000 in costs to IIROC.
A hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) has found that David Bruce Connacher violated IIROC rules by engaging in misleading and deceptive trading, and by engaging in personal financial dealings. Following an April 20, 2011 disciplinary hearing, the panel accepted the facts and allegations published in the Notice of Hearing. […]
A hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) accepted a settlement agreement, with sanctions that include a permanent ban on registration, between IIROC staff and Marcel Anil Rada. In the agreement, Rada admitted he violated IIROC rules through his participation in various off-book transactions without the knowledge or consent of his […]
A hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) has imposed a penalty on Michael Thomas Jones which includes a permanent ban from registration in any capacity with an IIROC-regulated firm. The panel’s decision, based on an agreed statement of facts and violations, found Mr. Jones was liable of misappropriating funds from […]
A hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) has imposed a penalty on Patrick David O’Neill which includes a fine of $775,000 and a permanent ban. The panel also ordered Mr. O’Neill to pay $104,985.06 in costs. The panel’s penalty decision follows an earlier decision which found that O’Neill misled clients […]