Big brother will be watching for any QuestCap manipulationThank you for contacting the Investment Industry Regulatory Organization of Canada (IIROC). We will review the information you have provided related to the recent trading activity in Questcap Inc.
The market complaint process 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. As a result, we will not provide you with any updates or additional information regarding our review of this matter. However, please be assured that appropriate action will be taken.
One of IIROC’s primary objectives when reviewing any complaint is to determine whether there is sufficient evidence that supports a potential breach of the Universal Market Integrity Rules (UMIR) or other IIROC rules, warranting further investigation and potential regulatory action. If there are no indications of any rule violations, IIROC will close the file with no action taken. Where there are indications of potential rule violations, IIROC will take appropriate action against the dealer or its registered employees. Appropriate action may involve formal disciplinary proceedings or other measures, such as a cautionary letter. Formal disciplinary proceedings become matters of public record; however, other measures taken by IIROC are not. For further information on IIROC’s complaint process, please see our website
here.