MONTRÉAL, Feb. 2, 2012 /CNW/ - A Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) has imposed the following penalties on Natalie St-Amant:
|(a)||a fine of $20,000;|
|(b)||close supervision, which shall end one year after the date of this decision; and|
|(c)||suspension of approval with IIROC in any capacity for a period of one month from the date of this decision.|
The Hearing Panel also ordered Ms. St-Amant to pay costs in the amount of $15,000. The Decision and Reasons on penalties dated December 20, 2011 are available at the following address:
In an earlier decision on liability, announced June 8, 2011, a panel found that Ms. St-Amant violated IIROC rules when she:
- effected trades for her own account and directly from insiders in publicly traded companies, and without the knowledge of her employer;
- compensated clients without the knowledge of her employer;
- failed in her duty to protect the public in connection with a client's trades that were or could be an indication of market manipulation; and
- took part in a private placement for her own account without prior disclosure of the proposed trade to her employer.
The decision and reasons respecting liability, handed down by the 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 Ms. Natalie St-Amant's conduct in November 2006. The violations occurred while Ms. St-Amant was a Registered Representative at the Brossard branch of Desjardins Securities Inc., an IIROC-regulated firm. Ms. St-Amant 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: