Enforcement Notice - Hearing - IN THE MATTER OF Jacques Turenne - Penalty Hearing

MONTRÉAL, Sept. 25, 2015 /CNW/ - A penalty hearing has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) in the matter of Jacques Turenne.

The Hearing Panel will consider the appropriate penalties to be imposed as a result of their decision dated July 2, 2015 which found Mr. Turenne liable for violating IIROC rules. The Hearing Panel found that Mr. Turenne engaged in personal financial dealings with one of his clients by borrowing money from her and that he made false statements to IIROC staff in the course of a prior disciplinary matter. The Hearing Panel's decision on liability is available at: http://docs.iiroc.ca/DisplayDocument.aspx?DocumentID=6E1E48FA3AAA4D62A44FC291FC637009&Language=en.

The penalty hearing is open to the public, unless the Hearing Panel orders otherwise. The decision of the Hearing Panel will be made available at www.iiroc.ca.

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.

Hearing date:

October 7, 2015, at 10 a.m.


Centre Mont-Royal - Mansfield 2 Room

2200 Mansfield Street

Montréal, Québec

IIROC formally initiated the investigation into Mr. Turenne's conduct in September 2013. The  conduct occurred while Mr. Turenne was employed as a Registered Representative at the
Trois-Rivières branch of Groupe Option Retraite inc., a former IIROC‑regulated firm; and later as a Registered Representative at the Trois-Rivières branch of Desjardins Securities Inc., and finally, as a Registered Representative with the Shawinigan-Sud branch of PEAK Securities Inc., the last two being IIROC-regulated firms. Mr. Turenne is no longer a registrant with an IIROC-regulated firm.

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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: Enforcement Contact: Claudyne Bienvenu, Acting Vice-President, Québec, 514 878-2854, cbienvenu@iiroc.ca; Media Contact: Karen Archer, Manager, Media Relations, 416 865-3046, karcher@iiroc.ca


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