A hearing into enforcement allegations against a pair of executives at failed investment dealer, PACE Securities Corp., has been set for next February.

The Investment Industry Regulatory Organization of Canada (IIROC) announced that its disciplinary hearing into allegations of misconduct against the firm’s former CEO, Joseph Anthony Thomson, and its chief compliance officer, Douglas Gerald McRae, will start on Feb. 1, 2021 in Toronto.

PACE was suspended by IIROC in May of this year, and entered liquidation proceedings led by Ernst & Young Inc.

None of the allegations against Thomson and McRae have been proven.

Among other things, the two men are accused of violating conflict of interest rules in connection with the sale of proprietary products (offerings from Pace Financial Ltd. and First Hamilton Holdings Inc.) to the firm’s clients, alongside supervisory violations.