IIROC imposes $15,000 fine on branch supervisorpar The IJ Staff | June 21 2017 09:45AM
An Investment Industry Regulatory Organization of Canada (IIROC) Hearing Panel reached a settlement agreement with Steeve Buisson, announced the regulator June 20.
Buisson admitted having failed, as the designated supervisor of the Quebec City branch of Laurentian Bank Securities Inc., “to adequately supervise a registered representative under his responsibility, in accordance with supervision conditions imposed by the Québec District Council Approval Committee,” stated IIROC’s announcement.
Buisson also failed to ensure that a registered representative under his supervision met the training requirements in connection with the 90-day training program.
Buisson has accepted to pay a fine of $15,000; successfully complete the Branch Manager’s Course within four months of accepting the settlement agreement; and pay $2,500 in costs. The IIROC panel accepted the agreement on May 9.