Enforcement Notice - Hearing - IN THE MATTER OF Steve Duchaine - Penalty Hearing

MONTRÉAL, April 16, 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 Steve Duchaine.

The Hearing Panel will consider the appropriate penalties to be imposed as a result of its decision dated December 22, 2014, which found that Mr. Duchaine acted contrary to IIROC Rules, namely that he misrepresented the nature of a security to clients, that he recommended and purchased securities that were unsuitable for a client, that he substituted bonds for the purpose of generating excessive commissions, and that he tried to forge a client's signature on a document.

The Hearing Panel's liability decision is available at:
http://www.iiroc.ca/Documents/2015/14413331-fa61-4171-8334-6485028f2e42_en.pdf

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:

April 27, 2015, at 10:00 a.m.



Location:        

Centre Mont-Royal - Mansfield 5 Room


2200 Mansfield St.


Montréal, Québec



IIROC formally initiated the investigation into Mr. Duchaine's conduct in December 2012. The violations occurred when Mr. Duchaine was a Registered Representative with the Québec City branch of Laurentian Bank Securities Inc., an IIROC-regulated firm. Mr. Duchaine 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: Carmen Crépin, Vice-President, Québec, 514 878-2854, ccrepin@iiroc.ca; Media Contact: Karen Archer, Senior Media and Public Affairs Specialist, 416 865-3046, karcher@iiroc.ca

RELATED LINKS
http://www.iiroc.ca

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