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Enforcement Notice - Hearing - IN THE MATTER OF Gary Man Kin Ng and Donald Warren Metcalfe - Adjournment


VANCOUVER, BC, Nov. 30, 2021 /CNW/ - A hearing was scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) in the matter of Gary Man Kin Ng and Donald Warren Metcalfe for February 22 to February 25, and February 28 to March 4, 2022.

On November 24, 2021, an IIROC Hearing Panel granted an Order adjourning the hearing to May 9 to May 20, 2022. The Order can be found here

Gary Man Kin Ng and Donald Warren Metcalfe ? Order

The hearing concerns allegations against Mr. Ng that:

    1. Between November, 2018 and January, 2020, he engaged in fraudulent conduct with respect to loan financing, contrary to Consolidated Rule 1400
    2. In July 2020, he failed to cooperate with Enforcement Staff who were conducting an investigation, contrary to section 8104 of the Consolidated Rules.

The hearing concerns allegations against Mr. Metcalfe that:

    1. Between November, 2018 and January, 2020, he engaged in fraudulent conduct with respect to loan financing, contrary to Consolidated Rule 1400
    2. In August 2020, he failed to cooperate with Enforcement Staff who were conducting an investigation, contrary to section 8104 of the Consolidated Rules.

Subject to any provincial directive related to the pandemic, the hearing will be held in person and will be open to the public, unless the Panel orders otherwise.

Hearing Date: May 9 to May 20, 2022 at 10:00 a.m.

Location:  Reportex 1010 ? 925 West Georgia Street Vancouver, BC V6C 3L2

IIROC formally initiated the investigation in February 2020. The alleged violations occurred while Mr. Ng was a Director, Investor, Executive, and Registered Representative with PI Financial Corp. and a Director, Executive, and Registered Representative with Chippingham Financial Group Limited, both IIROC-regulated firms. Ng is no longer a registrant with PI Financial Corp or Chippingham Financial Group Limited. The alleged violations occurred while Mr. Metcalfe was a Director and Executive with PI Financial Corp. and Chippingham Financial Group Limited. Metcalfe is no longer a registrant with an IIROC-regulated firm.

The Notice of Hearing and Statement of Allegations which sets out the allegations is available at:

Gary Man Kin Ng and Donald Warren Metcalfe ? Notice of Hearing and Statement of Allegations 

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.

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.

IIROC is the pan-Canadian self-regulatory organization that 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 174 Canadian investment dealer firms of varying sizes and business models, and their more than 31,000 registered employees. IIROC also sets and enforces market integrity rules regarding trading activity on Canadian debt and equity marketplaces. For more information, visit www.iiroc.ca.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - General News


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