IN THE MATTER OF Elaine Lamothe - Settlement



    MONTREAL, June 4 /CNW/ - Notice is hereby given that a hearing will be
held before a Hearing Panel of the Investment Industry Regulatory Organization
of Canada (IIROC), on Tuesday, June 16, 2009, at 10 a.m. or as soon thereafter
as the hearing can be heard, at 5 Place Ville-Marie, suite 1550, Montréal,
Québec, in the Board Room, to consider whether, pursuant to section 20.36 of
the IIROC Dealer Member Rule, the Hearing Panel should accept a Settlement
Agreement entered into between Staff of IIROC and Elaine Lamothe (the
"Respondent").
    The subject matter of the proposed Settlement Agreement concerns
allegations that:

    
    (a) Between May 2000 and January 2005, the Respondent, at the time acting
        as a Registered Representative of National Bank Financial Inc.,
        failed in her duty to protect the public and failed to use due
        diligence to learn and remain informed of the essential facts
        relative to her client "A" and to every order or account accepted,
        contrary to Association Regulation 1300 and By-Law 29.1;

    (b) Between May 2004 and June 2005, the Respondent, at the time acting as
        a Registered Representative of National Bank Financial Inc., failed
        in her duty to protect the public, and failed to use due diligence to
        ensure that the acceptance of orders for the account of client "A"
        was within the bounds of good business practice when she agreed to
        execute trades at the request of client "A", when she knew or should
        have known that the trades could be an indicator of an activity or
        behaviour that was suspicious or contrary to the public interest,
        contrary to Association Regulation 1300 and By-Law 29.1.
    

    The IDA initiated an investigation into the Respondent's conduct on
January 19, 2006. It was alleged that the violations occurred when the
Respondent was a Registered Representative at the Rouyn-Noranda Branch of
National Bank Financial Inc. Ms. Lamothe has not been employed with an
IIROC-regulated firm since November 2005.
    The hearing is not open to the public unless and until the Settlement
Agreement has been accepted by the Hearing Panel. If the Hearing Panel accepts
the Settlement Agreement, the Hearing Panel's decision and reasons will be
made available to the public.

    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.





For further information:

For further information: Carmen Crépin, Vice President, Québec, (514)
878-2854, ccrepin@iiroc.ca; Jeff Kehoe, Director, Enforcement, (416) 943-6996,
jkehoe@iiroc.ca


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