A hearing panel of the Investment Industry Regulatory Organization of Canada has accepted a settlement agreement between IIROC staff and Wellington West Capital Inc. registered representative Irwin Igra.

Igra admitted that between January 2005 and December 2006, he failed to use due diligence to ensure that clients qualified as accredited investors before facilitating the purchase of securities offered pursuant to prospectus exemptions. The violations occurred when Irwin was a registered rep with IPC Securities Corp.

As penalties, the hearing panel fined Igra $10,000, and ordered him successfully complete of the Conduct and Practices Handbook Examination within six months. Igra was also ordered to pay costs in the amount of $2,500.

IIROC formally initiated the investigation into the Igra’s conduct on July 9, 2007.

Igra is Ris still within the industry in a registered capacity with Wellington West Capital Inc.

IE