IN THE MATTER OF Mario Bouchard - Settlement
MONTRÉAL,
(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, Policy No. 2 and By-Law 29 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 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. (d) On or about September 29, 2006, the Respondent engaged in business conduct unbecoming or detrimental to the public interest, in that he failed to respect Standard C of the Conduct and Practices Handbook, which relates to professionalism, when he covered the losses of client "I" with his own funds, without the knowledge of the firm, contrary to By-law 29.1.
IIROC formally initiated the investigations into the Respondent's conduct on
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
For further information: For further information: Carmen Crépin, Vice President, Québec, (514) 878-2854, [email protected]; Jeff Kehoe, Director, Enforcement Litigation, (416) 943-6996, [email protected]
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