Month suspension, $25,000 for off-book dealing

On March 29, 2012 a hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) accepted a settlement agreement between IIROC staff and Alain Laroche.

Specifically, Laroche admitted to the following violation:

a) Around October 2007 he engaged in business conduct unbecoming and detrimental to public interest, contrary to By-law 29.1 and Regulation 200.1 of the IDA (now Rule 29.1 and Rule 200.1 of the IIROC) by permitting several of his clients to participate in a private placement of shares in an investment firm owned by his spouse, all unrecorded and without the knowledge of the member firm.

Pursuant to the settlement agreement, Laroche agreed to the following penalties, which took effect on March 29, 2012:

a) A $20,000 fine; and b) Suspension from approval with IIROC in any capacity for a period of one month.

Laroche also agreed to pay costs in the amount of $5,000.

IIROC formally initiated the investigation into Laroche’s conduct in September 2009. The violation occurred when he was a registered representative with the Québec City branch of Canaccord Capital Inc. (now Canaccord Genuity), an IIROC-regulated firm. Laroche is no longer a registrant with an IIROC-regulated firm.

Staff

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