Enforcement Notice - Decision - IN THE MATTER OF Northern Securities Inc. and Victor Phillip Alboini - Appeal Decision

TORONTO, June 19, 2015 /CNW/ - The decisions of the Ontario Securities Commission (the "OSC") in this matter dated December 19, 2013 and September 11, 2014 were reviewed by the Divisional Court of the Ontario Superior Court of Justice (the "Divisional Court") on June 3 and 4, 2015.  The decisions of the OSC under appeal resulted from a Hearing and Review in this matter of the decision originally rendered by an IIROC Hearing Panel on May 28, 2012.

The Divisional Court released its decision on June 5, 2015 holding that the appeal brought by Northern Securities Inc. and Victor Phillip Alboini from the OSC decisions was dismissed in its entirety.

The Divisional Court's decision is available at:
http://www.canlii.org/en/on/onscdc/doc/2015/2015onsc3641/2015onsc3641.html?autocompleteStr=northern%20sec&autocompletePos=12

The OSC decision dated December 19, 2013 is available at:
http://www.osc.gov.on.ca/en/Proceedings_rad_20131219_northern-securities.htm

The OSC decision dated September 11, 2014 is available at:
http://www.osc.gov.on.ca/en/Proceedings_rad_20140911_northern-securities2.htm

The IIROC Hearing Panel's decision dated May 28, 2012 is available at:
http://www.iiroc.ca/Documents/2012/99ecb28c-7ab0-475b-952c-1dcceb222d9c_en.pdf

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.

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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

Related Links

http://www.iiroc.ca