Infractions Found
Against Former Member Employee
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Notice to Members 42/98
Following an Exchange Hearing, an Exchange Hearing Panel (the "Panel") found
that the respondent Michael Joseph Kennedy Hallett ("Hallett"), employed at the
time of the infraction by the Member Firm Canaccord Capital Corporation, had breached
By-law 5.01(2).
By-law 5.01(2) states, in part, that an Infraction is any conduct which
is inconsistent with just and equitable principles of trade or detrimental to the
interests of the Exchange or the public.
The Panel found that Hallett’s conduct in receiving funds from an
acquaintance for the purposes of investing them in securities and instead using them for
his own purposes was contrary to By-law 5.01(2).
The Panel will deal with the question of penalties at a date to be
determined.
Copies of the decision may be obtained from the Exchange’s
Corporate Secretary.
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