A hearing panel of the Investment Dealers Association of Canada (has imposed discipline penalties on Chak (Jason) Ng, at all material times an approved person with the Toronto head office of HSBC Securities (Canada) Inc.

In its liability decision, the panel found that between October and November 2004, Ng unknowingly facilitating a market manipulation in the stock of Pender International Inc. The panel also found that Ng accepted instructions from a person not authorized in writing to provide instructions on a particular account.

In determining penalty, the panel considered as mitigating factors that Ng has been in the investment business for many years and does not have a disciplinary record and that he cooperated fully with the IDA, the police investigation and the investigation by his former employer.

The panel also said that Ng had already suffered significantly for his misconduct, as he lost his job and is currently the subject of a lawsuit by HSBC Securities (Canada) Inc.

For his misconduct, Ng has been fined $40,000 and is required to pay $25,000 in costs. He has been suspended for one year commencing on Jan. 18, 2008 and must be under a six-month period of close supervision following his suspension. In addition, Ng must rewrite and pass the exam based on the Conduct and Practices Handbook.

Ng is currently employed with the Toronto branch of Research Capital Corp.