MONTRÉAL, Feb. 3, 2012 /CNW/ - A Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) has imposed the following penalties on Jean-Luc Beaudoin:
|(a)||An aggregate fine of $10,000; and|
|(b)||Should Mr. Beaudoin wish to hold director/officer/supervisory responsibilities in the future: repeat and pass the Partners, Directors and Senior Officers Course (PDO).|
The Hearing Panel also ordered Mr. Beaudoin to pay costs in the amount of $5,000.
The Decision and Reasons on penalties dated December 20, 2011 are available at the following address:
In an earlier decision, announced June 8, 2011, a Hearing Panel found that Jean-Luc Beaudoin failed in his duty to protect the public relative to the trades in the account of a client, given that there were signs of market manipulation, and failed in his duty to properly track and keep a record of his daily supervision reviews and inquiries and their follow-up.
The decision and reasons respecting liability, handed down by the Hearing Panel on May 18, 2011, are available at the following address:
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 began investigating Mr. Beaudoin's conduct in February 2008. The violations occurred while he was a branch manager at the Brossard branch of Desjardins Securities Inc., an IIROC-regulated firm. Mr. Beaudoin is still employed with Desjardins Securities Inc. in the capacity of Registered Representative.
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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.
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.
For further information: