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Investment Industry Regulatory Organization o
Symbol	*IIROC
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IIROC imposes $20,000 fine on Research ex Ahrens

2014-10-28 19:32 ET - Street Wire

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by Mike Caswell

The Investment Industry Regulatory Organization of Canada has imposed $20,000 in financial penalties and a four-week suspension on Justin Ahrens, a former Research Capital Corp. branch manager, after he ignored red flags in accounts associated with Thal Poonian. IIROC said that Mr. Ahrens allowed an employee to trade Mr. Poonian's companies after learning about highly suspicious activity, which included trading that made up nearly all of the volume in some stocks. In a related case, the B.C. Securities Commission recently found Mr. Poonian guilty of a $7.1-million market manipulation.

The penalties, announced by IIROC on Tuesday, Oct. 28, come over five years after the events in question. IIROC claimed that in 2008 and 2009 Mr. Ahrens failed to supervise a former Research employee, Doreen Lowe, while she traded three stocks associated with Mr. Poonian. According to IIROC, the trading was clearly suspicious. Research's compliance department copied Mr. Ahrens on e-mails that described her activities, but he did nothing, and even reinstated her after another manager stopped her trading, IIROC claimed.

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fire everyone involved from their jobs and then force them to legally defend themselves. then make false and outlandish allegations while withholding evidence and declare the evidence as irrelevant and then find the involved individuals have acted contrary to public interest which they have to show no evidence to the panel. welcome to the world of a subjective, biased, process where one has no basic legal rights.

Posted by bottomfisher at 2014-10-30 14:12

Posted by bottomfisher at 2014-10-30 14:13

copy and paste this url on a decision by bcsc not to allow Mr Myatovic to introduce new evidence that was withheld by bcsc and iiroc at his notice of hearing.

http://do.bcsc.bc.ca/comdoc.nsf/0/20c38c9ebe364c6d88257d39007a2c92/$FILE/2014%20BCSECCOM%20348.pdf

some exerts from the decision:

On May 22, 2014, Myatovic applied to the Commission to introduce evidence at the review hearing that was not before the IIROC panel. On July 11, 2014, at the direction of the Commission, Myatovic filed further written materials in support of his application, and asked the Commission to issue summonses to four witnesses who did not testify at the IIROC proceedings.

5 On July 25, 2014, IIROC applied for an order refusing Myatovic’s request that the Commission issue the summonses.

6 On August 12, 2014, the Commission heard further submissions from the parties.

Ruling

7 We have reviewed the materials filed by the parties and considered the written and oral submissions, and:

1. we grant IIROC’s application and decline to issue summonses to the four witnesses; and

2. we dismiss Myatovic’s application to introduce further evidence.

Posted by bottomfisher at 2014-10-30 14:27

these incestuous relationships amongst the regulators require proper cross-checks and balances. who regulates the regulators?

Posted by bottomfisher at 2014-10-30 14:36

Official witch hunts are job protection for the enforcement staff of all the Securities Commissions and IIROC.

Posted by stock pro at 2014-10-31 13:24

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