A hearing panel of the Investment Industry Regulatory Organization of Canada has permanently banned a former Research Capital Corp. broker for failing to co-operate with an investigation.

On March 10, the hearing panel accepted a settlement agreement between IIROC staff and Erica Fearn.

Fearn admitted that on or about November 30, 2009, she failed to attend and give information in respect of an investigation being conducted by IIROC staff.

In addition to permanent ban on registration in any capacity with IIROC, Fearn was ordered to pay a $50,000 fine and costs in the amount of $2,000.

IIROC formally initiated the investigation into the Fearn conduct on June 20, 2008, when she was a registered representative with the Vancouver branch of Research Capital.

Fearn is no longer registered in any capacity with an IIROC-regulated firm.

The settlement agreement and the hearing panel’s decision and reasons are available at www.iiroc.ca.

IE