A date has been set for a hearing into whether a Prince George stockbroker engaged in manipulative or suspicious trading.
At a set-date hearing held Tuesday, a hearing on the actual merits of the case was scheduled for Nov. 14 to Dec. 2, said Investment Industry Regulatory Organization of Canada (IIROC) litigation director Elsa Renzella.
IIROC alleges Myatovic, who works at Canaccord Genuity Corp.'s Prince George office, and Doreen Lowe, a stockbroker in Vancouver, failed in their roles as gatekeepers by pre-arranging trades in several client accounts on the instruction of a third party between April 2008 and March 2009.
The trades involved shares Great Pacific International Inc. and OSE Corp., two junior oil and gas companies that share the same address in Ladner.
IIROC also alleges that in late 2009 Myatovic opened several locked-in registered accounts for clients resident in Ontario without adequately questioning the circumstances of the account opening and subsequent activity in SNL Enterprises Ltd, another issuer on the TSX Venture Exchange.
SNL, which has since changed its name to Logan Copper Inc., shares the same Ladner address as OSE and Great Pacific.
The contraventions, if the two are found to have breached the rules, carry fines of as much as $1 million or $5 million, depending on their status with IIROC, or three times the profit made or loss avoided through the actions, whichever is greater. Suspensions or a permanent ban could also be in order.
