MONTREAL, Sept. 6, 2012 /CNW/ - A hearing has been scheduled before a
Hearing Panel of the Investment Industry Regulatory Organization of
Canada (IIROC), in the matter of Daniel Bergeron.
The hearing concerns allegations that Mr. Bergeron failed to use due
diligence when he recommended a private placement to his clients
without verifying its nature or doing adequate follow-up, and without
informing his employer.
The hearing is open to the public, unless the panel orders otherwise.
The decision of the panel will be made available at www.iiroc.ca .
September 24 to 28, 2012, at 10 a.m.
2200 Mansfield Street
Mansfield 2 Room
Specifically, the allegations are that:
Between 2002 and 2009, Mr. Bergeron, while a registered representative
with CIBC World Markets Inc., failed in his role of gatekeeper by not
using due diligence to verify the nature of the investment, by
recommending investments in Ressources Dasserat stock to his clients
and by not doing adequate follow-up of his clients' investments
subsequently, contrary to IIROC Dealer Member Rule 29.1 (formerly IDA
Between June 2002 and September 2003, Mr. Bergeron, while a registered
representative with CIBC World Markets Inc., facilitated a purported
purchase by his clients of stock in Ressources Dasserat, in a private
off-book investment, which constituted an outside business activity
without the knowledge of his firm, contrary to IIROC Dealer Member Rule
29.1 (formerly IDA Bylaw 29.1).
IIROC formally initiated the investigation into Mr. Bergeron's conduct
in April 2010. The alleged violations occurred when Mr. Bergeron was a
Registered Representative with the Québec City branch of CIBC World
Markets Inc., an IIROC-regulated firm. Mr. Bergeron is still within the
industry in a registered capacity, at the Québec City branch of
Desjardins Securities Inc.
The Notice of Hearing which sets out the allegations is available at
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:
Vice President, Québec
Director, Public Affairs