MONTREAL, Dec. 17 /CNW/ - A Hearing Panel of the Investment Industry
Regulatory Organization of Canada (IIROC) has scheduled a hearing to
consider evidence and submissions in the matter of Jean-Luc Beaudoin.
The hearing concerns allegations that Mr. Beaudoin failed to properly supervise transactions by three
registered representatives who were under his supervision.
10 am, February 21-25 and 28 and March 1-4, 2011
Centre Mont-Royal, Room Mansfield 5
2200 Mansfield Street, Montréal, QC
The hearing is open to the public unless the panel orders otherwise. The
panel's decision and reasons will be made public when available.
Specifically, the hearing concerns allegations that Mr. Beaudoin
violated IIROC Rule 1300, IIROC Rule 2500, and IIROC Rule 29.1when he:
failed to properly supervise the personal accounts of three registered
staff who were under his supervision. In particular, he failed to
question the receipt of numerous securities of public companies into
the representatives' personal accounts;
failed to question the merit of certain transactions and trade
recommendations in client accounts of the same three staff;
failed to keep a proper record of his daily supervision reviews, his
inquiries and their follow-up regarding the trading activity of the
same three representatives under his supervision; and
failed to properly question the merit of certain trades made by one of
the three representatives who were under his supervision, even though
the client was a consultant to the companies involved and there were
indications of possible market manipulation.
IIROC began investigating Mr. Beaudoin's conduct on February 12, 2008.
The alleged violations occurred while Mr. Beaudoin was a Registered
Representative at the Brossard branch of Desjardins Securities Inc.,
and IIROC-regulated firm. Mr. Beaudoin is still employed at this firm
in the same registration category.
* * *
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
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