MONTRÉAL, June 19, 2017 /CNW/ - Following a disciplinary hearing held on June 9, 2017, a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) found that Nelson Turcotte did forge a client's signature (forged endorsement) on an account document.
The Hearing Panel's liability decision dated June 9, 2017 is available at:
The English version of this decision will be posted when it becomes available
Specifically, the Hearing Panel found that Mr. Turcotte committed the following violation:
On or around November 12, 2014, Mr. Turcotte forged a client's signature (forged endorsement) on an account document, and thereby engaged in business conduct or practice unbecoming or detrimental to the public interest, contrary to IIROC Dealer Member Rule 29.1.
A separate hearing will be scheduled to determine the penalty for Mr. Turcotte; the date will be posted at www.iiroc.ca.
Documents related to ongoing IIROC enforcement proceedings – including Reasons and Decisions of Hearing Panels – are posted on the IIROC website as they become available. Click here to search and access all IIROC enforcement documents.
IIROC formally initiated the investigation into Mr. Turcotte's conduct in January 2015. The misconduct occurred when Mr. Turcotte was a registered representative at the Sainte-Foy branch of Desjardins Securities Inc., an IIROC-regulated firm. Mr. Turcotte is no longer a registrant with an IIROC-regulated firm.
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IIROC is the national self-regulatory organization which oversees all investment dealers and their trading activity in Canada's debt and equity markets. IIROC sets high quality regulatory and investment industry standards, protects investors and strengthens market integrity while supporting healthy Canadian 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.
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, permanent bars, expulsion from membership, or termination of rights and privileges 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.
SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - General News
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