Enforcement Notice - Hearing - IN THE MATTER OF Steven Dion - Settlement Hearing

MONTRÉAL, Feb. 3, 2017 /CNW/ - A hearing has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC), to consider whether the Hearing Panel should accept a Settlement Agreement entered into between IIROC staff and Steven Dion.

The Agreement concerns the allegation that Mr. Dion recommended an investment strategy and the purchase of securities that were unsuitable for one of his clients, given the factors such as the client's financial situation, investment knowledge, investment objectives, investment time horizon and risk tolerance, as well as the current investment portfolio composition and risk level in the account(s).

The hearing is not open to the public, unless and until the Settlement Agreement has been accepted by the Hearing Panel. If the agreement is accepted, the Panel's decision and the Settlement Agreement 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:

February 15, 2017, at 9:30 a.m.



Location:    

Centre Mont-Royal


2200, Mansfield Steet


Montréal, Québec

 

IIROC formally initiated the investigation into Mr. Dion's conduct in May 2014.  The misconduct occurred when Mr. Dion was a Registered Representative with the Montréal branch of National Bank Financial Inc., an IIROC regulated firm. Mr. Dion still works in the industry in a registered capacity, at the Montréal branch of Desjardins Securities Inc.

The Notice of Application for Settlement Hearing and the announcement of the settlement hearing is available at http://docs.iiroc.ca/DisplayDocument.aspx?DocumentID=9DAF8A6B3A38424BB862A8CBA01FD12A&Language=en

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IIROC is the national self-regulatory organization which oversees all investment dealers and their trading activity in Canada's debt and equity markets. 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, 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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http://www.iiroc.ca

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