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The Ontario Securities Commission has created the Investor Advisory Panel, which will provide input on the regulator’s work, including proposed rules and policies, the annual Statement of Priorities, concept papers and specific issues.

“While we currently receive comments from investors through our notice and comment process, we believe investors could be better represented in that process,” says OSC Chair David Wilson. “I am confident that the panel will be an effective voice for Ontario investors as well as a great asset to the Commission and its work.”

The panel will be made up of seven members, who will be selected to ensure the panel is representative of a broad range of investors. One of the seven will be selected as the chairperson.

Applications for membership in the Investor Advisory Panel will be solicited within a few weeks through a notice in the OSC Bulletin and on its website, and in print and web-based publications with general circulation. The OSC hopes to complete the member selection process by late May and have the panel in place for a first meeting in June.

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IIROC suspends Alan Ferguson Hackett

The Investment Industry Regulatory Organization of Canada (IIROC) has suspended Alan Ferguson Hackett from the industry for 10 years as a result of a disciplinary hearing held on Jan. 12 and 13, 2010.

It was found that between Nov. 2002 and March 2007, Hackett borrowed money from three of his clients without the knowledge of his employer, Canaccord Capital Corporation in Vancouver, B.C.

The hearing panel also said that after the 10-year suspension, and before he can return to the industry, Hackett must pass the Conduct and Practices Handbook for Securities Industry Professionals examination. He will be subject to close supervision by the IIROC for three years after being re-admitted into the investment industry.

For more information, please go to www.iiroc.ca.

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IIROC calls hearing for Erica Fearn

Erica Fearn will appear before a hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) on March 10, 2010.

The hearing panel will rule on the allegation that Fearn failed to participate in an in-house investigation on or around Nov. 30, 2009. Currently, Fearn is not employed by an IIROC-regulated company.

The hearing is open to the public and will take place at 925 West Georgia Street, Suite 1010, Vancouver, B.C. at 10 a.m. Information regarding the hearing panel’s decision in this case will be made available at a later date.

For more information, please go to www.iiroc.ca.

(02/26/10)