MONTRÉAL, July 21, 2021 /CNW/ - A hearing has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) to consider whether the Panel should accept a Settlement Agreement entered into between IIROC staff and Sylvain Trudel.
The Settlement Agreement concerns an allegation that Mr. Trudel effected discretionary trades.
The hearing is not open to the public, but will become open in the event that the panel accepts the agreement. Members of the public who would like to attend the appearance should contact IIROC's National Hearing Coordinator, at NHC1@iiroc.ca, to obtain the details. If the agreement is accepted, the Panel's decision and the Settlement Agreement will be made available at www.iiroc.ca.
Appearance Date: The disciplinary hearing will be held by videoconference on September 22, 2021 at 9:30 a.m.
IIROC formally initiated the investigation into Mr. Trudel's conduct in August 2019. The alleged violation occurred when Mr. Trudel was a registered representative at the Montréal branch of BMO Nesbitt Burns inc., an IIROC-regulated firm. Mr. Trudel still works as a registered individual with a Montréal branch of National Bank Financial Inc., an IIROC-regulated firm.
The Notice of Application announcing the settlement hearing can be found here:
Trudel, Sylvain - Notice of Application for Settlement Hearing
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.
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IIROC is the pan-Canadian self-regulatory organization that 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 175 Canadian investment dealer firms of varying sizes and business models, and their more than 30,000 registered employees. IIROC also sets and enforces market integrity rules regarding trading activity on Canadian debt and 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 enforcement 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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