VANCOUVER, Aug. 31, 2016 /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 Settlement Agreements entered into between IIROC staff, Teymur Englesby and Cale Nishimura.
The Agreements concern conduct involving the entry of orders that Mr. Englesby and Mr. Nishimura, ought reasonably to have known, could reasonably be expected to create an artificial price for the securities.
The hearing is not open to the public, but will become open in the event that the panel accepts the agreements. If the agreements are accepted, the Panel’s decision and the Settlement Agreements 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: Thursday, September 15, 2016 at 10:00 a.m.
Location: Reportex Agency, 1010-925 West Georgia Street, Vancouver, BC
IIROC formally initiated the investigation into Mr. Englesby’s conduct in February 2013. The conduct occurred while Mr. Englesby was a Registered Representative with the Vancouver head office of PI Financial Co., an IIROC-regulated firm. Mr. Englesby continues to be a Registered Representative at that firm.
IIROC formally initiated the investigation into Mr. Nishimura’s conduct in January 2014. The conduct occurred while Mr. Nishimura was an Investment Representative and Registered Representative with the Vancouver head office of PI Financial Co., an IIROC-regulated firm. Mr. Nishimura continues to be a Registered Representative at that firm.
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IIROC is the national self-regulatory organization which oversees all investment dealers and their trading activity in Canada’s debt and equity markets. IIROC sets high quality regulatory and investment industry standards, protects investors and strengthens market integrity while supporting healthy Canadian 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