RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Looking like a good day Thank you for your email about trading in Nevsun Resources Ltd. (NSU)
The information you have provided will be reviewed and assessed.
IIROC’s Market Surveillance, and trade review analysis ensures that trading is carried out according to UMIR (Universal Market Integrity Rules) and applicable provincial securities law. IIROC continuously monitors all trading on all 14 Canadian equity marketplaces and alternative trading systems. (For a full list, click here.)
IIROC uses a state-of-the-art advanced technology system known as the Surveillance Technology Enhancement Platform (STEP), which offers a unique consolidated view of trading on all marketplaces that helps to detect unusual activity. STEP gives IIROC the tools, including real time capability, to monitor and identify possible violations of UMIR across all Canadian trading platforms. For your convenience, I am also including a link to our website that speaks about how IIROC monitors trading activity and surveillance’s role when unusual price or volume activity is detected : Surveillance of Trading Activity. .
IIROC has confidential investigation procedures and as such staff cannot comment on any reviews we may be conducting or a potential investigation unless it becomes a matter of public record. By keeping information confidential, we protect the integrity of our investigation, ensure the complaint process is not used to affect the market and maintain fairness to those who may be the subject of a complaint that does not result in an investigation or sanction.
One of the primary roles of IIROC in reviewing any complaint is to determine whether there is sufficient evidence that supports a potential breach of UMIR, to warrant further investigation and potential regulatory action. If there are no indications of violations of UMIR, IIROC will close the file with no action taken. If there are indications of potential violations of UMIR, IIROC will take appropriate action against the dealer member or its registered employees. Appropriate action may involve formal disciplinary proceedings or other measures such as a cautionary letter or a warning letter. Formal disciplinary proceedings become matters of public record, however other measures taken by IIROC are not.