Canadian regulators have scheduled a couple of disciplinary hearings related to the failure of the market in non-bank sponsored asset-backed commercial paper (ABCP).
On Monday, the Investment Industry Regulatory Organization of Canada set a hearing date for its case against Deutsche Bank Securities Ltd. for September 27.
The firm is contesting the IIROC’s allegations that it failed to disclose information relating to US subprime and the liquidity risk in third-party ABCP, and that it failed to ensure proper compliance oversight.
Also Monday, the Ontario Securities Commission said that it would start its hearing into allegations it brought against Coventree Inc., a manufacturer of ABCP, and a couple of its executives on May 12.
The OSC alleges disclosure failures against Coventree, which the firm has disputed.
None of the allegations in either case have been proven.
IE
Dates set for two ABCP-related hearings
Deutsche Bank Securities, Coventree dispute allegations by regulators
- By: James Langton
- April 26, 2010 April 26, 2010
- 16:03