Notice to public: Settlement hearing in the matter of Simon Paul Sénécal



    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. Sénécal who,
at all material times, was a registered representative at the head office
branch, located in Montréal, of National Bank Financial Inc., an IDA Member
firm, and relates to matters for which Mr. Sénécal may be disciplined. The
conduct which is the subject of the hearing occurred between December 2000 and
April 2002. Mr. Sénécal is currently a registered representative in the employ
of National Bank Financial Inc.
    The violations with which Mr. Sénécal is charged pertain to the fact
that, while neither he nor his fellow team member was authorized to trade in
options, he permitted the latter to recommend options strategies to several
clients of their team, to request the opening of numerous options accounts for
these clients and, upon their opening or subsequently, to request that these
accounts be approved for high-risk options strategies, whereas the clients'
stated objective was to lower their risk. He is also charged with failing to
ensure that options trades effected for numerous clients of the team were
referred to the options representative designated for this purpose and for
having permitted his fellow team member to effect these trades without regard
for the clients' objectives and risk tolerance, and without ensuring the
suitability of these trades, contrary to Regulation 1900.2 (b), Regulation
1300.1 (p) and 1300.1 (q), and By-law 29.1.
    The hearing will commence at 3:00 p.m., on Wednesday, November 7, 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.

    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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