Le Lézard
Classified in: Business
Subject: LAW

Enforcement Notice - Hearing - IN THE MATTER OF Remo Costa - Disciplinary Hearing


MONTRÉAL, March 20, 2018 /CNW/ - A hearing has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) in the matter of Remo Costa.

The discipline hearing concerns an allegation that Mr. Costa entered orders or executed transactions when he knew, or ought reasonably to have known, that the entry of such orders or the execution of the transactions would create, or could reasonably be expected to create, a false or misleading appearance of trading activity with respect to the securities or an artificial ask price for the securities.

The hearing is open to the public, unless the Hearing Panel orders otherwise. The Hearing Panel's decision will be available at www.iiroc.ca.

Hearing Date: 

June 5, 2018, at 9:30 a.m.



Location: 

Centre Mont-Royal

2200 Mansfield Street

Montréal, Québec

Specifically, the allegation is that:

During five days between July 28, 2015 and September 28, 2015, Mr. Costa, a client and director of Jitney Trade Inc., entered orders or executed transactions on the Toronto Stock Exchange (TSX) when he knew, or ought reasonably to have known, that the entry of such orders or the execution of the transactions would create or could reasonably be expected to create a false or misleading appearance of trading activity with respect to the securities or an artificial ask price for the securities, contrary to UMIR 2.2(2) and UMIR Policy 2.2, for which he is liable under Rule 10.4 (1) of the Universal Market Integrity Rules (UMIR).

IIROC formally initiated the investigation into Mr. Costa's conduct in January 2016. The alleged violation occurred while he was a director of Jitney Trade Inc., an IIROC-regulated firm. Mr. Costa is no longer a registrant with an IIROC-regulated firm.

The Notice of Hearing and Statement of Allegations, which sets out the allegation, is available at: http://docs.iiroc.ca/DisplayDocument.aspx?DocumentID=854E6E1C3EF742E18A3A55C833A9EF3F&Language=en.

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.

*  *  *

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 debt and 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


These press releases may also interest you

at 11:31
ICIS, a global source of commodity intelligence, is pleased to announce a strategic partnership with Base Oil News, a premier news outlet founded by industry expert Iain Pocock that provides in-depth coverage of the base oils and lubricants market....

at 11:30
SharpQuest, Inc., a software services provider with a niche in cloud and mobile-app solutions, is thrilled to announce the opening of its new branch office in Windsor, Ontario, Canada. This strategic expansion marks a significant milestone in our...

at 11:18
Bloxcross, a premier payment solutions provider, and GoDirectPay, an e-payment expert, have collaborated to launch a groundbreaking mobile application that revolutionizes global payments. https://directpay.blox.global/register/ This custom-built app...

at 11:10
NewMarket Corporation announced today it expects to release first quarter 2024 earnings at the close of business on Wednesday, April 24, 2024. The earnings announcement will also be available on the Company's website at www.NewMarket.com the...

at 11:07
SOCOTEC USA, a leading provider of TIC (Testing, Inspection, and Certification), consulting, and advisory services with a strategic focus on buildings and infrastructure, announces its collaboration with Bisnow to deepen the understanding of the...

at 11:05
Knight Therapeutics Inc. ("Knight" or "the Company") is pleased to announce it will be recognized on The Globe and Mail's 2024 Report on Business magazine's fifth annual Women Lead Here list. This annual editorial benchmark identifies top-level...



News published on and distributed by: