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IN THE MATTER OF Louis-Philippe Séguin - Appeal Decision

MONTRÉAL, March 5, 2014 /CNW/ -  The appeals of the decision of the Court of Québec, District of Montréal, dated December 14, 2011, in the matter of Louis-Philippe Séguin, were heard on December 18, 2013.

The Québec Court of Appeal released its decisions on December 18, 2013, and February 13, 2014. It:

a)

Dismissed the appeal by Louis-Philipe Séguin of the guilty finding against him, with costs;



b)

Upheld the guilty finding against Louis-Philipe Séguin for failure to cooperate;



c)

Accepted the appeal by IIROC regarding the penalty, with costs;



d)

Overturned the judgment of the Court of Québec regarding the penalty; and



e)

Reinstated the penalties imposed by the Hearing Panel and upheld by the BDR, namely a permanent bar from approval and a fine of $50,000, with costs in the amount of $27,000.

 

The decision of the Québec Court of Appeal, dated February 13, 2014, is available at: http://www.jugements.qc.ca/php/decision.php?liste=74593030&doc=47EEA933419C2AEF0E045AFE4C44BEE2C67BFEF9A0B318D3D94309DF795769AC&page=1.

The decision of the Québec Court of Appeal, dated December 18, 2013, is available at: http://www.jugements.qc.ca/php/decision.php?liste=74667150&doc=355880798EDEDB6B070891A79DD0B5601A031850759160CDE5ACADCF8C0E9A43&page=1

The decision of the Court of Québec, dated December 14, 2011, is available at: http://www.jugements.qc.ca/php/decision.php?liste=74610993&doc=87535F678CDB77CD809A9A12F4B95DA60F9EDBD9EB2526239A1DE6A793704407&page=35.

The decision of the Bureau de décision et de révision (BDR), dated December 22, 2010, is available at: http://www.jugements.qc.ca/php/decision.php?liste=74612237&doc=993786104F08B747421B2F630C6771D0E9420C8E806B1895CC15C79AB6925B5D&page=1.

The three decisions of the IIROC Hearing Panel that were subject to review by the BDR and, subsequently, to appeal before the Court of Québec and the Québec Court of Appeal are available at:

 

  1. Motion respecting the jurisdiction of the IIROC Hearing Panel, dated June 29, 2007: http://www.iiroc.ca/Documents/2007/9C603AC1-3135-4F55-B77E-8D599B811DAD_en.pdf;
  2. Decision on liability, dated December 7, 2007: http://www.iiroc.ca/Documents/2008/39E7EF93-5F77-4C1C-AB22-35575767B1E5_en.pdf;
  3. Decision on penalty, dated March 11, 2008: http://www.ocrcvm.ca/Documents/2014/675ccb8f-8932-41b2-b770-39cf5af883a4_fr.PDF.

The Notice of Hearing which sets out the allegations is available at: http://www.iiroc.ca/Documents/2007/C6DA9588-D28D-43BC-9FC8-AA91B311E6B3_en.pdf

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 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.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - General News

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