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(July 17, 2007) The president of PlanPlus Inc. was recognized for a research paper he penned at the 2007 Financial Frontiers Awards, an annual worldwide competition sponsored by the Journal of Financial Planning.

Shawn Brayman and one other entrant were awarded Silver Level Awards in a year when no Gold Level winners were announced. Brayman’s paper introduced a new mathematical algorithm to replace the Monte Carlo Simulation.

“I am thrilled with the recognition of this award for a few reasons,” Brayman said in a press release. “First, I believe this type of research is a reflection of the growing development of financial planning as a profession. Secondly, Monte Carlo Simulations are a complex technique, subject to misunderstanding. I hope the new methodology I have outlined will lead to a better calibre of financial planning in the industry.”

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IDA fines Trudel

(July 17, 2007) The Investment Dealers Association of Canada has slapped a $35,000 fine on Bertrand Trudel for a variety of misdeeds, including conducting an unauthorized trade on behalf of his client on or about March 21, 2002.

The hearing panel also found that between July 1997 and July 2002, Trudel effected discretionary trades in a client’s margin account without the proper written authorization and made unsuitable recommendations to two clients between January 2000 and July 2002.

As well as these infractions, Trudel took instructions from a third party without a proper power of attorney to carry out trading in the accounts of three clients between January 2000 and November 2002.

The hearing panel has ordered Trudel to pay a total fine of $35,000; disgorge commissions in the amount of $6,359.37; and pay $10,000 in costs. Trudel is to be under close supervision until November 1, 2007.

At all relevant times, Trudel was an approved person at the Joliette branch of Lévesque Beaubien Inc., now National Bank Financial Inc., but he is currently employed with Retirement Option Group Inc.

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IDA fines rep over laundering

(July 17, 2007) The Investment Dealers Association of Canada has slapped a $130,000 fine against Jean-Louis Trudeau for misdeeds while employed at the Montreal head office of MacDougall, MacDougall & MacTier. Trudeau is currently employed with Canaccord Capital Corporation.

Between February 2003 and May 2004, Trudeau executed suspicious trades through clients’ accounts, thus failing his due diligence obligation.

“In finding Mr. Trudeau guilty of this first count, the hearing panel recalled the crucial role of participants in the securities industry who contribute to the honesty of the system by not willingly turning a blind eye to the lapses or to the conduct of their clients, and by questioning their dubious actions,” the IDA said in its decision.

Furthermore, in June 2001 and May 2004, Trudeau neglected to identify the clients in accordance with IDA guidelines relative to anti–money laundering legislation and failed to obtain necessary information from his clients.

On top of the $130,000 fine, Trudeau must disgorge $41,342.63 in commissions and pay $30,000 in costs. He is also required to rewrite and pass the Conduct and Practices Handbook Exam within one year of the effective date of the decision.

(07/17/07)