The Investment Industry Regulatory Organization of Canada has fined a former registered rep with Peak Securities Inc. $40,000 for violation several IIROC rules.

An IIROC hearing panel has accepted a settlement agreement, with sanctions, between IIROC staff and Carol Voyer.

The violations occurred from July 2004 to August 2006, he was a representative with the Rimouski, Que. branch of Peak.

Specifically, Voyer admitted to the following violations:

> he consented to financial arrangements with three of his clients in the course of the business relationship developed with them, without the knowledge of the firm,

> without the knowledge of the firm, he allowed one of his clients to subscribe for shares in Plexmar Resources Inc., knowing that the client was not an accredited investor within the meaning of Regulation 45-106 respecting Prospectus and Registration Exemptions;

> he engaged in a non-exchange trade by selling shares in Plexmar Resources Inc. on behalf of a client, without informing the firm; and

> he failed in his professional duty by not disclosing his outside personal business to the firm.

Voyer agreed to a fine of $40,000 and suspension from approval with IIROC in any capacity for a period of two years. He also agreed to pay $5,000 in costs.

IIROC formally initiated the investigation into Voyer’s conduct in December 2006. He is no longer a registrant with an IIROC-regulated firm.