MONTREAL, Feb. 28, 2012 /CNW/ - A Hearing Panel of the Investment
Industry Regulatory Organization of Canada (IIROC) accepted a
Settlement Agreement, with sanctions, between IIROC staff and Carol
Specifically, Mr. Voyer admitted to the following violations:
Between March 2005 and August 2006, Mr. Voyer engaged in conduct
unbecoming and detrimental to the public interest by consenting to
financial arrangements with three of his clients in the course of the
business relationship developed with them, without the knowledge of the
firm, contrary to By-law 29.1 of the IDA (now IIROC Dealer Member Rule 29.1);
On or about February 23, 2006, Mr. Voyer engaged in conduct unbecoming
when, without the knowledge of the firm, he allowed one of his clients
to subscribe for shares in Plexmar Resources Inc., knowing that said
client was not an accredited investor within the meaning of Regulation 45-106 respecting Prospectus and Registration Exemptions (R.S.Q., c. V-1.1. r.0.1.001.1), contrary to IDA By-law 29.1(now IIROC
Dealer Member Rule 29.1);
Between June 27 and August 25, 2006, Mr. Voyer engaged in a non-exchange
trade by selling shares in Plexmar Resources Inc. on behalf of a
client, without informing the firm, contrary to IDA By-law 29.1(now
IIROC Dealer Member Rule 29.1);
Between July 2004 and September 2006, Mr. Voyer failed in his
professional duty by not disclosing his outside personal business to
the firm, contrary to IDA By-law 29.1 (now IIROC Dealer Member Rule 29.1).
Pursuant to the Settlement Agreement, Mr. Voyer agreed to the following
An aggregate fine of $40,000; and
Suspension from approval with IIROC in any capacity for a period of
Mr. Voyer also agreed to pay costs in the amount of $5000.
The Settlement agreement and panel's decision are available at
Documents related to ongoing IIROC enforcement proceedings - including
Reasons and Decisions of Hearing Panels - are posted on the IIROC
website as they become available. Click here to search and access all IIROC enforcement documents.
IIROC formally initiated the investigation into Mr. Voyer's conduct in
December 2006. The violations occurred when he was a representative
with the Rimouski branch of Peak Securities Inc., an IIROC-regulated
firm. Mr. Voyer is no longer a registrant with an IIROC-regulated firm.
* * *
IIROC is the national self-regulatory organization which oversees all
investment dealers and trading activity on debt and equity marketplaces
in Canada. Created in 2008 through the consolidation of the Investment
Dealers Association of Canada and Market Regulation Services
Inc., IIROC sets high quality regulatory and investment industry
standards, protects investors and strengthens market integrity while
maintaining efficient and competitive capital markets.
IIROC carries out its regulatory responsibilities through setting and
enforcing rules regarding the proficiency, business and financial
conduct of dealer firms and their registered employees and through
setting and enforcing market integrity rules regarding trading activity
on Canadian equity marketplaces.
IIROC investigates possible misconduct by its member firms and/or
individual registrants. It can bring disciplinary proceedings which may
result in penalties including fines, suspensions, permanent bars,
expulsion from membership, or termination of rights and privileges for
individuals and firms.
All information about disciplinary proceedings relating to current and
former member firms is available in the Enforcement section of the IIROC website. Background information regarding the
qualifications and disciplinary history, if any, of advisors currently
employed by IIROC-regulated firms is available free of charge through
the IIROC AdvisorReport service. Information on how to make investment dealer, advisor or
marketplace-related complaints is available by calling 1.877.442.4322.
SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - General News
For further information:
Vice President, Québec
Director, Public Affairs