MONTREAL, Aug. 14 /CNW Telbec/ - On November 28, 2006, following an investigation conducted by its Regulatory Division, Bourse de Montreal Inc. (the Bourse) filed a complaint against Marc Beaudoin who was, when the relevant facts occurred, a person approved by the Bourse.
Following a hearing, the Disciplinary Committee of the Bourse (the Committee) issued a decision imposing to Marc Beaudoin a fine of $35,000 and requiring that he refunds the costs of the investigation, for an additional amount of $10,595.
The Committee determined that Marc Beaudoin has contravened article 6004 of the Rules of the Bourse, which stipulates that subject to some exceptions, all purchases and sales of products listed on the Bourse made by approved participants, permit holders and affiliated corporations must take place on the Bourse during a trading session thereof.
On or about September 25, 2000, Marc Beaudoin proceeded to an off exchange transaction involving 500,000 Jitec Inc. shares, for a total value of $2,600,000. As the shares of Jitec Inc. were then listed on the Bourse, this transaction should have taken place on the Bourse during a trading session as required by the Rules of the Bourse.
At the time of this infraction, Marc Beaudoin was a registered representative of Canaccord Capital Corporation. He is not currently employed in the securities industry.