Notice to public: Settlement hearing in the matter of Gilbert Pelletier



    MONTREAL, Oct. 19 /CNW/ - The Investment Dealers Association of Canada
(IDA) announced today that a hearing will be held before a Hearing Panel
appointed pursuant to IDA By-law 20 for the presentation and review of a
Settlement Agreement.
    The Settlement Agreement is between staff of the IDA and Mr. Gilbert
Pelletier who, at all material times, was a registered representative at the
Montréal head office branch of National Bank Financial Inc., an IDA Member
firm, and relates to matters for which Mr. Pelletier may be disciplined. The
conduct which is the subject of the hearing occurred between December 2000 and
April 2002. Mr. Pelletier is not currently in the employ of an IDA Member
firm.
    The violations with which Mr. Pelletier is charged pertain to the fact
that, while he was not authorized to trade in options, he recommended options
strategies to several clients, requested the opening of options accounts for
these clients and requested that the accounts of several clients be approved
for high-risk options strategies, despite the stated objective of reducing the
risk, for having himself executed or requested the execution of numerous
options trades without ensuring that they were suitable for the clients and
without referring them to the designated registered representative options,
contrary to Regulation 1900.1 (p), Regulation 1300.1 (p) and 1300.1 (q), and
By-law 29.1. Mr. Pelletier is also charged with having, without the knowledge
and prior authorization of his firm, prepared and submitted to a client
incomplete monthly valuations of his holdings, which were of a nature to be
misleading, contrary to By-law 29.1 and By-law 29.7 (1)(a).
    The hearing is scheduled to commence at 10:00 a.m. on Friday, November 2,
2007, at 1 Place Ville-Marie, suite 2802, Montréal, Québec. The hearing is not
open to the public unless and until the Settlement Agreement has been accepted
by the Hearing Panel. Copies of the decision of the Hearing Panel and the
Settlement Agreement will be distributed if and when the Settlement Agreement
is accepted by the Hearing Panel.

    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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