IN THE MATTER OF Mario Bouchard - Settlement



    MONTREAL, June 5 /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 2 p.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 IIROC Dealer
Member Rule 20.36, the Hearing Panel should accept the Settlement Agreement
between IIROC Staff and Mario Bouchard (the Respondent). The subject matter of
the proposed Settlement Agreement concerns allegations that:

    
    (a) On or about July 6, 2004, the Respondent failed in his duty to
        protect the public in supervising the transactions effected in the
        account of client "A" by a representative under his supervision, with
        regard to deposits of share certificates, notably by an insider who
        was also a client of the Respondent, thereby failing to ensure that
        these transactions were within the bounds of good business practice,
        although he knew or should have known that the transactions could be
        an indicator of an activity or behaviour that was suspicious or
        contrary to the public interest, contrary to Regulation 1300 and By-
        Law 29.1 of the Association;

    (b) From July 2004 to October 2004, the Respondent failed in his duty to
        protect the public in supervising the transactions effected in the
        account of client "A" by a representative under his supervision, with
        regard to the routine execution of sell orders following deposits of
        share certificates, notably by an insider who was also a client of
        the Respondent, and to requests for the issuance of cheques to third
        parties, thereby failing to ensure that these transactions were
        within the bounds of good business practice, although he knew or
        should have known that the transactions could be an indicator of an
        activity or behaviour that was suspicious or contrary to the public
        interest, contrary to Regulation 1300, Policy No. 2 and By-Law 29.1
        of the Association;

    (c) From July 2004 to October 2004, the Respondent failed to track and
        keep a proper record of his daily supervision reviews and of his
        inquiries and their follow-up with regard to the transactions
        executed in the account of client "A", as required by Policy No. 2
        and By-law 29 of the Association.
    

    The IDA formally initiated an investigation into the Respondent's conduct
on January 19, 2006. The violations are alleged to have occurred while the
Respondent was the branch manager and a Registered Representative Options
(Retail) at the Rouyn-Noranda branch of National Bank Financial Inc. Mr.
Bouchard is still employed by National Bank Financial Inc., an IIROC-regulated
firm, as a Registered Representative Options (Retail).
    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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