MONTRÉAL, Feb. 5, 2014 /CNW/ - A hearing has been scheduled before a
Hearing Panel of the Investment Industry Regulatory Organization of
Canada (IIROC) in the matter of Charline Gilbert.
The hearing concerns allegations that, between March 1994 and May 2013,
Charline Gilbert made false statements to the IDA, now IIROC, and to
the various regulatory bodies, in her applications for registration or
approval as a registered representative, by declaring under oath that
she held a master's degree and a doctorate. She also allegedly
participated in publicity and presentations to the public, falsely
stating that she held a master's degree and a doctorate in finance, and
allegedly used the abbreviations corresponding to these degrees on her
business cards and other documents. Finally, in her application for
accreditation as an associate portfolio manager, she allegedly
presented her employer with a forged attestation of a university
degree, with the intention of misleading him, whereas she knew or ought
to have known that it contained false information.
The 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.
March 6, 2014 at 10:00 a.m.
2200 Mansfield Street
Specifically, the allegations are that:
(a) Between March 7, 1994 and May 16, 2013, Ms. Gilbert made false
statements to the IDA, now IIROC, in her applications for
registration/approval as a registered representative and in her
communications with the various regulatory bodies, by stating that she
held a master's degree and/or a doctorate when she had not earned these
degrees, thereby engaging in conduct unbecoming or detrimental to the
public interest, contrary to By-law 29.1 of the IDA (now IIROC Dealer
Member Rule 29);
(b) Since 2005, Ms. Gilbert has misrepresented herself to her
clients and participated in publicity and presentations to the public
as a person with a master's degree and/or a doctorate in finance, and
used the abbreviations corresponding to these degrees on her business
cards and other promotional documents, when she had not earned these
degrees and/or titles, thereby engaging in conduct unbecoming or
detrimental to the public interest under the terms of IDA By-law 29.1
(now IIROC Dealer Member Rule 29); and
(c) When she was hired, on or around May 17, 2004, and/or when she
applied for accreditation as an associate portfolio manager, on or
around September 3, 2004, Ms. Gilbert presented her employer, an
IIROC-regulated firm, with an attestation of a university degree
whereas she knew or ought to have known that this attestation contained
false information, with the intention that her employer accept the
document as a true copy of the original document and act accordingly,
thereby engaging in conduct unbecoming or detrimental to the public
interest pursuant to IDA By-law 29.1 (now IIROC Dealer Member Rule 29).
IIROC formally initiated the investigation into Charline Gilbert's
conduct in March 2013. The alleged violations occurred when she was a
Registered Representative with the Québec City branch of RBC Dominion
Securities Inc., an IIROC-regulated firm. Ms. Gilbert 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=977EAE6BB8DF484CACCC6331C4B5575A&Language=en.
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.
* * *
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:
Senior Media and
Public Affairs Specialist