(September 11 – 10:50 ET) – The Ontario Securities Commission has issued a Notice of Hearing and Statement of Allegations against Wayne Umetsu, a former F.C. Canada Investments Inc.salesperson registered to trade in commodity futures.

Umetsu is alleged to have taken approximately $80,000 in funds given to him by a client for purposes of trading in commodity futures and used them for his own personal benefit. The OSC also alleges that Umetsu traded in commodity futures without being registered to do so and/or held himself out to be registered to trade in commodity futures.

The hearing is scheduled to commence at 10:00 ET on October 12.

Copies of the Notice of Hearing and the Statement of Allegations are available at www.osc.gov.on.ca.
-IE Staff