Notice to Public: Disciplinary Hearing in the matter of Stéphane Rail



    MONTREAL, Oct. 25 /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 Stéphane Rail
may be disciplined. Mr. Rail was, at all material times, a registered
representative at the Ste-Foy, Québec branch of TD Securities Inc. The
respondent is employed with a Member firm of the IDA.
    The hearing will relate to allegations that during the year 2000,
Stéphane Rail engaged in conduct unbecoming and detrimental to the public
interest, when he engaged in outside business activities without the consent
and without the knowledge of his firm, contrary to By-law 29.1. Also, during
the year 2000, he allegedly made inappropriate use of personal and
confidential information regarding two clients, contrary to By-law 29.1, and
failed to use due diligence to make sure that an amount payable to one person
was properly invested in the account of that person, thereby engaging in
conduct unbecoming and contrary to By-law 29.1.
    The hearing will relate to allegations that in June and July 2000,
Stéphane Rail engaged in conduct unbecoming and detrimental to the public
interest, contrary to By-law 29.1, by creating an investors group, to which he
belonged, for the purpose of investing over $150,000, when he knew or should
have known as a registered representative, that this stratagem constituted a
means of illegally taking advantage of the prospectus exemption provisions
stipulated in section 51 of the Securities Act. It is also alleged that Mr.
Rail, on two occasions and on different dates, deposited sums of money in the
account of one of his clients, one deposit being for the purpose of making a
private investment, each said deposit made on a personal basis thereby
constituting conduct unbecoming and detrimental to the public interest,
contrary to By-law 29.1.
    Finally, the hearing will relate to allegations that in October 2000 and
March 2001, Stéphane Rail engaged in conduct unbecoming and detrimental to the
public interest, contrary to By-law 29.1, by using the firm's letterhead
without the firm's consent and without its knowledge for the purpose of
undisclosed outside business activities.
    The hearing is scheduled to commence at 10:00 a.m. on January 15, 2008,
at the Barreau du Québec, 445 St-Laurent Blvd., Montréal, Québec, room 355.
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 its approved persons. Investigating complaints and
disciplining members and approved persons are 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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