Enforcement Notice Hearing - IN THE MATTER OF Richard Poirier - Appearance to set a hearing date

MONTRÉAL, June 10, 2016 /CNW/ - An appearance has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) for the purpose of setting a date for a disciplinary hearing in the matter of Richard Poirier.

The discipline hearing concerns allegations that Richard Poirier engaged in personal financial dealings with a client and recommended and/or facilitated a client's investment in a private placement. The hearing also concerns allegations that Mr. Poirier directly or indirectly accepted remuneration or a gratuity, benefit, or other consideration from a person other than the Dealer Member.

The set date appearance is open to the public, unless the Hearing Panel orders otherwise. The date for the discipline hearing will be made available 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.

Set Date Appearance:	June 21, 2016 at 10:00 a.m.
Location:	Centre Mont-Royal
	2200 Mansfield Street
	Montréal, Québec

                       

Specifically, the allegations are that:

1)	On or around June 18, 2008, Mr. Poirier engaged in personal financial dealings with a client, by borrowing money from him without the knowledge and without the consent of the IIROC Dealer Member with whom he was employed, contrary to IIROC Dealer Member Rule 29.1;
2)	In June 2008, Mr. Poirier recommended and/or facilitated a client's investment in a private placement, an off-book transaction, without the knowledge and without the consent of the IIROC Dealer Member with whom he was employed, contrary to IIROC Dealer Member Rule 29.1;
3)	In June 2008, Mr. Poirier engaged in personal financial dealings with a client by investing in a private placement, an off-book transaction, without the knowledge and without the consent of the IIROC Dealer Member with whom he was employed, contrary to IIROC Dealer Member Rule 29.1; and
4)	On or around May 10, 2011, Mr. Poirier directly or indirectly accepted remuneration or a gratuity, benefit, or other consideration from a person other than the Dealer Member, contrary to IIROC Dealer Member Rule 18.15.

IIROC formally initiated the investigation into Mr. Poirier's conduct in June 2014. The alleged violations occurred when Mr. Poirier was a registered representative at the Amos, Québec branch of Desjardins Securities Inc., an IIROC-regulated firm. Mr. Poirier is no longer a registrant with an IIROC-regulated firm. 

The Notice of Hearing, which sets out the allegations, is available at

http://docs.iiroc.ca/DisplayDocument.aspx?DocumentID=403B761723F64FEA8400313E0A306879&Language=en

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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

Enforcement Contact: Claudyne Bienvenu, Vice-President, Québec, 514 878-2854, [email protected]; Media Contact: Karen Archer, Manager, Media Relations, 416 865-3046, [email protected]