Tuscany International Drilling Inc T.TID

confirmation from IIROC

[gdsmitty]

Thank you for your email regarding the recent trading activity in Tuscany International Drilling Inc. (“TID”).
Please note that staff at Investment Industry Regulatory Organization of Canada ("IIROC"), routinely monitor trading and review all instances of unusual trading. As such, this information has been forwarded to a trading analyst for further review.
With respect to insider trading, IIROC monitors the trading activity on Canadian marketplaces of insiders and significant shareholders for the purpose of assisting the securities regulatory authorities by providing initial detection of possible violations of securities legislation principally related to insider trading. IIROC will take appropriate action via: analysis, assessment, investigation and enforcement of its member-participants and registrants where Universal Market Integrity Rules (UMIR) and Dealer Member Rules are violated.
When warranted, IIROC will promote violations under the Securities Act to the Provincial Securities Commission’s investigations group for further review and enforcement under National Instrument 55-104 - Insider Reporting Requirements and Exemptions.
Moreover, IIROC has confidential investigation procedures and as such staff cannot comment on 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. However, please be assured that appropriate action will be taken.
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 Universal Market Integrity Rules (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.
IIROC exists to develop, administer, surveil and enforce the trading rules known as the Universal Market Integrity Rules, in the Canadian securities market. You may find out more about UMIR by visiting our website at www.iiroc.ca. The link to UMIR is in the right navigation pane under “Rule Book”.
If you have any further concerns, please do not hesitate to contact us at any time.
Regards,

Harry Apostolatos
Sr. Complaints & Inquiries Specialist
Investment Industry Regulatory Organization of Canada
121 King St. W., Ste. 2000, Toronto, Ontario M5H 3T9
Phone: [phone] | Toll-free: 1-877-442-4322 – Option “2” | Fax: [phone]
[e-mail]
IIROC: Protecting Investors and Fostering Fair and Efficient Capital Markets across Canada.