(July 25 – 11:45 ET) – The Ontario District Council of the Investment Dealers Association of Canada has imposed discipline penalties on Marc Guillemette, at the relevant time a Registered Representative with Merit Investment Corp.

In July 1997, Guillemette received six share certificates totalling 151,000 shares from his client. Over the course of the next three months, Mr. Guillemette misappropriated five of the share certificates, totalling 96,000 shares, and diverted them to the accounts of his mother, his father, an unrelated client and a corporation of which his mother was the principal.

As well, in the spring and summer of 1998, Guillemette conducted personal financial dealings with his client. Guillemette engaged in personal financial dealings with his client when he agreed to, and paid, the interest on a loan taken out by his client.

Guillemette is permanently prohibited from receiving IDA approval in any capacity and recievies a $110,000. He is no longer employed in the securities industry.

For a complete Summary of Facts, please see IDA Disciplinary Bulletin No. 2749 at www.ida.ca.
-IE Staff