Market Regulation Services Inc.

Market Regulation Services Inc.

July 26, 2005 15:07 ET

RS Hearing Panel to consider Settlement Agreement between RS and four RBC DS employees; No Hearing on July 27

TORONTO, ONTARIO--(CCNMatthews - July 26, 2005) - At 10 a.m. on Thursday, July 28, 2005, an RS Hearing Panel will convene at RS, 9th floor, 145 King Street West, to consider a settlement agreement between RS and four employees of RBC DS relating to a manipulative and deceptive method of trading, which is a contravention of sections http://docs.rs.ca/ArticleFileMain.asp?Instance=100&ID=00A264CBFE5D478AAA74D8F738CF2B92 of the Universal Market Integrity Rules (UMIR). The hearing is open to the public.

The hearing panel will not be convening on Wednesday, July 27 at ADR Chambers Inc. in Toronto.

The four employees are: Ian MacDonald, Managing Director, Canadian Equity Derivatives; David Singh, Director, Canadian Equity Derivatives; Edward Boyd, Vice President, Canadian Equity Derivatives; and Peter Dennis, Senior Equity and Derivatives trader.

No details of the settlement agreement will be released prior to the July 28 hearing.

The RS Hearing Panel may accept or reject the settlement agreement. In the event the settlement agreement is accepted, the matter becomes final and there can be no appeal of the matter. In the event the settlement agreement is rejected, RS may proceed with a hearing of the matter before a differently constituted Hearing Panel.

The terms of the settlement, if accepted and approved by the Hearing Panel, and the disposition of this matter by the Hearing Panel will be published by RS as a Disciplinary Notice and in a news release.

About Market Regulation Services Inc. (RS)

RS is the independent regulation services provider for Canadian equity marketplaces, including TSX, TSX Venture Exchange, Canadian Trading and Quotation System, Bloomberg Tradebook Canada Company, Liquidnet Canada Inc., and Markets Inc. upon commencement of its operations. RS is recognized by the securities commissions of Ontario, British Columbia, Alberta and Manitoba and by the Autorite des marches financiers in Quebec to regulate the trading of securities on these marketplaces by participant firms and their trading and sales staff. RS helps protect investors and ensure market integrity by ensuring all equities transactions are executed properly, fairly and in compliance with trading rules.

Contact Information

  • Market Regulation Services Inc.
    Doug Maybee
    Director of Communications & Public Affairs
    Office: 416-646-7253, Cell: 416-627-3900
    doug.maybee@rs.ca
    www.rs.ca