VANCOUVER, June 21 /CNW/ - A hearing has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada to consider whether it should accept a settlement agreement between IIROC staff and Grant Gaudet.
The agreement concerns allegations Mr. Gaudet engaged in business conduct unbecoming or detrimental to the public interest in connection with client participation in offbook transactions and with personal dealings with a client.
The hearing is not open to the public, unless the Hearing Panel accepts the agreement. If the panel accepts the agreement, its decision and reasons will be made available to the public at www.iiroc.ca.
Hearing Date: 10 am, July 13, 2010
Location: Reportex Agencies
Suite 1010, 925 West Georgia Street, Vancouver
Specifically, the allegations in the agreement are that Mr. Gaudet breached IIROC Rule 29.1 when he:
- Facilitated the participation of clients in offbook transactions,
namely term deposits, without the knowledge or consent of his firm;
- Entered into personal financial dealings with a client by lending the
The alleged violations occurred between March, 2002, and March, 2008, when Mr. Gaudet was a Registered Representative with the Abbotsford, BC branch of Dundee Securities Corp., which operated as a branch of Cartier Partners Securities Inc. until Cartier's acquisition by Dundee. Cartier was and Dundee is an IIROC-regulated firm. IIROC began its investigation on October 27, 2009. Mr. Gaudet is currently a Registered Representative employed with Raymond James Ltd., 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.
SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - General News
For further information: For further information: Warren Funt, Vice President, Western Canada, 604.331.4750, firstname.lastname@example.org; Jeff Kehoe, Acting Vice President, Enforcement, 416.943.6996, email@example.com