The Investment Industry Regulatory Organization of Canada (IIROC) has sanctioned a Montreal broker for engaging in off-book activities.
On February 18, 2014, an IIROC hearing panel accepted a Settlement Agreement , with sanctions, between IIROC staff and Daniel Dubois .
The conduct occurred between 2004 and 2010 when Dubois was a registered representative at the Laval, Que. branch of Desjardins Securities Inc.
Dubois admitted that he engaged in securities-related activities, off book and without the knowledge of his employer, and accepted remuneration from a person other than his employer in regard to these activities.
Dubois also admitted that he lied to his employer when questioned about his outside business activities.
Dubois agreed to pay a $20,000 fine, disgorge $10,724, representing the fees collected between 2004 and 2010.
He also agreed to a one-month suspension, and to pay $5,000 in costs.
Dubois is currently a registered representative with the Montreal branch of Mackie Research Capital Corp.