IIROC announces decision for Jean-Luc Beaudoin

MONTRÉAL, June 8, 2011 /CNW/ - A Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) has found that Jean-Luc Beaudoin violated IIROC rules by failing to properly supervise transactions by certain registered representatives who were under his supervision.

The panel will meet at a future date to determine the appropriate penalty. The penalty hearing is open to the public, unless the panel orders otherwise. Its decision and reasons will be made available at www.iiroc.ca.

Specifically, the panel found that Mr. Beaudoin violated IIROC Rule 1300 by:

  • failing to properly question the merit of certain trades made by a representative who was under his supervision, even though the client was a consultant to the companies involved and there were indications of possible market manipulation.

The panel also found that Mr. Beaudoin violated IIROC Rule 29.1 by:

  • failing to keep a proper record of his daily supervision reviews, his inquiries and their follow-up regarding the trading activity of the representatives under his supervision.

The panel also found that two allegations were unfounded: that Mr. Beaudoin failed to question receipt of certain securities by representatives under his supervision; and that he failed to question the merit of certain transactions in client accounts.

IIROC began investigating Mr. Beaudoin's conduct in February 2008. The violations occurred while Mr. Beaudoin was the Branch Manager at the Brossard branch of Desjardins Securities Inc., an IIROC-regulated firm. Mr. Beaudoin is still registered with this firm.

IIROC investigates possible misconduct by its member firms and/or individual registrants. It can bring disciplinary proceedings which may result in penalties including fines, suspensions and permanent bans or terminations for individuals and firms.

All information about disciplinary proceedings relating to current and former member firms is available in the Enforcement section of the IIROC website. Background information regarding the qualifications and disciplinary history, if any, of advisors currently employed by IIROC-regulated firms is available free of charge through the IIROC AdvisorReport service. Information on how to make investment dealer, advisor or marketplace-related complaints is available by calling 1.877.442.4322.

IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada. Created in 2008 through the consolidation of the Investment Dealers Association of Canada and Market Regulation Services

Inc., IIROC sets high quality regulatory and investment industry standards, protects investors and strengthens market integrity while maintaining efficient and competitive capital markets.

IIROC carries out its regulatory responsibilities through setting and enforcing rules regarding the proficiency, business and financial conduct of dealer firms and their registered employees and through setting and enforcing market integrity rules regarding trading activity on Canadian equity marketplaces. 

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - General News

For further information:

For further information, please contact  
Carmen Crépin
Vice President, Québec
Elsa Renzella
Director, Enforcement Litigation



Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .


Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.


Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.