IIROC fines rep $10,000

On May 30, 2013, a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC), accepted a Settlement Agreement, with sanctions, between IIROC staff and Yufeng Zhang.

Zhang admitted to the following violation: On 25 days between July and December 2010, he engaged in a manipulative or deceptive practice in the pre-opening on a marketplace contrary to UMIR 2.2(1) and UMIR Policy 2.2, for which he is liable under UMIR 10.4(1).

Pursuant to the settlement agreement, Zhang agreed to the following penalty: (a) A fine in the amount of $10,000; and (b) A suspension of access to IIROC-regulated marketplaces for one month beginning June 1, 2013.

Zhang also agreed to pay costs in the amount of $1,500.

Staff

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