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10/17/17

Michael Ballanger has been a naughty boy

And now Michael Ballanger is going to have his botty spanked. Link here.

IN THE MATTER OF Michael Ballanger – Settlement Hearing
October 17 , 2017 (Toronto, Ontario) – A hearing has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) to consider whether the panel should accept a Settlement Agreement entered into between IIROC staff and Michael Ballanger.
The Settlement Agreement concerns conduct involving a failure to comply with the policies and procedures regarding new product reviews and the receipt and containment of confidential information at the investment firm where Mr. Ballanger worked.
The hearing is not open to the public, but will become open in the event that the panel accepts the agreement. If the agreement is accepted, the Panel’s decision and the Settlement Agreement will be made available at www.iiroc.ca.
Documents related to ongoing IIROC enforcement proceedings – including Reasons and Decisions of Hearing Panels – are posted on the IIROC website as they become available. Click here to search and access all IIROC enforcement documents.
Hearing Date: Thursday October 26, 2017 at 10:00 a.m.
Location: IIROC, 121 King Street West, Suite 2000, Toronto, Ontario
IIROC formally initiated the investigation into Mr. Ballanger’s conduct in October 2014. The conduct occurred while he was a Registered Representative in Toronto with Richardson GMP, an IIROC-regulated firm. Mr. Ballanger is no longer a registrant with an IIROC-regulated firm.
The Notice of Application announcing the settlement hearing is available at:

http://docs.iiroc.ca/DisplayDocument.aspx?DocumentID=459501D980384F4599434DD91092B6CB&Language=en


Thank you reader W for the heads up.


UPDATE: We don't know the details of the charges against Ballanger, but we do know it's about his conduct in October 2014. Just out of interest, in October 2014 Tinka Resources was trading at around 18c, sometimes as low as 16c. On November 13th 2014, when Tinka announced its graduation to the Tier 1 of the TSXV, it shot to 26c and 27c on volume. In that same NR Ballanger was named as the new member of the company's advisory committee. He has since then been fired by TK.