Manager fined for poor oversight

By Staff | February 2, 2012 | Last updated on February 2, 2012
1 min read

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 Beaudoin wish to hold director/officer/supervisory responsibilities in the future: repeat and pass the Partners, Directors and Senior Officers Course (PDO).

The panel also ordered Beaudoin to pay costs in the amount of $5,000.

The decision and reasons on penalties dated December 20, 2011 are available here.

In an earlier decision, announced June 8, 2011, a panel found that Beaudoin failed to properly supervise transactions by certain registered representatives who were under his supervision. (Read the related case here.)

The decision and reasons respecting liability, handed down by the panel on May 18, 2011, are available here.

IIROC began investigating 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. Beaudoin is still employed with Desjardins Securities Inc. in the capacity of registered representative. staff


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