Briefly: “TD shores up Ameritrade stake” and more of Friday’s news

TD Bank Financial Group has confirmed it is in talks to increase its ownership stake in TD Ameritrade Holding Corp., the parent company of the online brokerage with the same name.

TD had been limited to owning no more than 39.9% of the company, but that limit was raised to 45% on January 24, 2009. The bank is aiming to acquire an additional 5% stake in the company.

“We continue to be rewarded for our investment in TD Ameritrade, as it delivers great performance despite the difficult market environment,” said Ed Clark, president and CEO, TDBFG. “As we’ve said before, it’s been our intention for some time to take advantage of this opportunity to increase our ownership stake in this strong franchise.”

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IIROC to hold hearing into Trenholm

The Investment Industry Regulatory Organization of Canada has given notice of a hearing into the conduct of Daniel Murray Trenholm of Halifax.

Trenholm allegedly facilitated questionable transactions in five related accounts between October 2001 and February 2004, accepting trading instructions from an unauthorized person. The transactions appeared “consistent with market manipulation,” according to IIROC.

By not raising the matter with compliance, Trenholm allegedly failed to properly perform his role as gatekeeper to the capital markets.

A the time of his alleged failings, Trenholm was a registered representative with the Halifax branches of Lynch Investments Ltd. and Acadian Securities Inc. He is currently a registrant with Jennings Capital. The hearing will begin Monday, May 11.

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IIROC to hold hearing into Vitug

The Investment Industry Regulatory Organization of Canada will convene a hearing panel into the conduct of Julius Caesar Philip Vitug, on Monday February 23rd, 2009 in Toronto.

The regulatory alleges that between April 2003 to August 2005 Vitug had an undisclosed financial interest and undisclosed financial dealings in accounts, including accounts held at another member firm, of two of his clients, in violation of IDA By-law 29.1.

At the time of the alleged infractions, Vitug was a registered representative with the Toronto branches of TD Waterhouse Canada Inc. and Blackmont Capital Inc. He is currently still with Blackmont.

(02/06/09)