Investment Dealers Association of Canada - Notice to public: Set date application in the matter of André Bergeron



    MONTREAL, Dec. 3 /CNW/ - The Investment Dealers Association of Canada
(IDA) announced today that a hearing will be held before a Hearing Panel
appointed pursuant to By-law 20, in respect of matters for which André
Bergeron may be disciplined. At all material times, Mr. Bergeron was a
registered representative at the Montréal, Québec branch of Desjardins
Securities Inc. Mr. Bergeron is currently employed with Union Securities Ltd.

    
    The hearing will relate to allegations that:

    1.  Between November 2001 and May 2002, the Respondent, while a
        Registered Representative of Desjardins Securities Inc., a Member
        firm of the IDA, failed to use due diligence to remain informed of
        the essential facts relative to the identification of 45 new clients,
        when he opened delivery against payment (DAP) accounts at Desjardins
        Securities Inc., for accounts held at B2B Trust, without having met
        the clients, thereby contravening Regulation 1300.1(a), read in light
        of By-law 29.1;

    2.  Between November 2001 and May 2002, the Respondent, while a
        Registered Representative of Desjardins Securities Inc., a Member
        firm of the IDA, engaged in conduct unbecoming a registered
        representative and failed to exercise his role to protect the public
        by voluntarily turning a blind eye, contrary to By-law 29.1, when he
        systematically opened 47 new delivery against payment accounts at
        Desjardins Securities Inc. for accounts held at B2B Trust, at the
        request of a third party, without meeting or speaking with each of
        the clients, when he knew or should have known that the circumstances
        surrounding the new client applications was or could be an indicator
        of suspicious activity or activity contrary to the clients' interest;

    3.  Between November 2001 and May 2002, the Respondent, while a
        Registered Representative of Desjardins Securities Inc., a Member
        firm of the IDA, engaged in conduct unbecoming a registered
        representative or detrimental to the public interest, contrary to
        By-law 29.1, by being the registered representative for 47 off-book
        accounts at B2B Trust, valued at approximately $1,418,256, without
        the knowledge or consent of Desjardins Securities Inc.;

    4.  Between November 2001 and May 2002, the Respondent, while a
        Registered Representative of Desjardins Securities Inc., a Member
        firm of the IDA, engaged in conduct unbecoming a registered
        representative or detrimental to the public interest, contrary to
        By-law 29.1, by neglecting to advise 47 clients for whom he had
        opened delivery against payment accounts at Desjardins Securities
        Inc. for accounts held with B2B Trust, under the following
        circumstances:

        a) during the purchase of private investments by two of his clients
           while he was their registered representative, when he knew or
           should have known that the circumstances surrounding the private
           investments was or could be an indicator of suspicious activity or
           activity contrary to the clients' interest;

        b) by holding accounts, most of which contained private investments
           purchased by his clients, when he knew or should have known that
           the circumstances surrounding these private investments were or
           could be an indicator of suspicious activity or activity contrary
           to the clients' interest.
    

    The hearing date will be set by the Hearing Panel at 10:00 a.m. on
Monday, December 17, 2007, at 1 Place Ville-Marie, Suite 2802, Montréal,
Québec. The hearing is open to the public except as may be required for the
protection of confidential matters. Copies of the decision of the Hearing
Panel will be made available.

    The Investment Dealers Association of Canada (IDA) is the national
self-regulatory organization of the securities industry. The IDA's mission is
to protect investors, foster market integrity and enhance the efficiency and
competitiveness of the Canadian capital markets. The IDA enforces rules and
regulations regarding the sales, business and financial practices of its
Member firms and their approved persons. Investigating complaints and
disciplining Members and approved persons is part of the IDA's regulatory
role.





For further information:

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

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IDA

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INVESTMENT DEALERS ASSOCIATION OF CANADA

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