Enforcement Notice - Hearing 16-0011 - IN THE MATTER OF Ferdinand Renaud - Discipline Hearing

VANCOUVER, Jan. 13, 2016 /CNW/ - A hearing has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) in the matter of Ferdinand Renaud.

The hearing concerns allegations that Mr. Renaud made unsuitable recommendations and engaged in discretionary trading for the accounts of his clients.

The hearing is open to the public, unless the 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:  

March 16, 2016 at 10:00 a.m.



Location:       

Charest Reporting


885 West Georgia Street, 16th floor


Vancouver, BC  

 

Specifically, the allegations are that:

(a)  Between 2007 and 2013, Mr. Renaud failed to use due diligence to ensure that the         recommendations that he made for the accounts of his clients were suitable for them, contrary to IIROC Dealer Member Rule 1300.1(q) (IDA By-law 1300.1(q) prior to June 1, 2008);

(b)  In 2012, Mr. Renaud engaged in discretionary trading with respect to the accounts of    his clients without being authorized and approved to do so, contrary to Dealer Member Rule 1300.4; and

(c)  Between 2007 and 2013, Mr. Renaud failed to use due diligence to ensure that the    recommendations that he made for the accounts of his clients were suitable for them, contrary to IIROC Dealer Member Rule 1300.1(q) (IDA By-law 1300.1(q) prior to June 1, 2008).

IIROC formally initiated the investigation into Mr. Renaud's conduct in September 2013. The alleged violations occurred while he was a Registered Representative with the Kelowna business location of Cannacord Genuity Corp. and then the Kelowna business location of Raymond James Ltd., both are IIROC-regulated firms. Mr. Renaud is no longer a registrant with an IIROC-regulated firm.

The Notice of Hearing which sets out the allegations is available at: http://docs.iiroc.ca/DisplayDocument.aspx?DocumentID=B338E32B0B5E4658B18BECC38D64C860&Language=en.

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: Warren Funt, Vice-President, Western Canada, (604) 331-4750, wfunt@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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