(October 23 – 14:25 ET) – The Commission des valeurs mobilières du Québec has rendered a majority decision imposing a four-month suspension on Steve Buisson.
This sanction has been applied to Buisson for having posted messages about Delsecur Corp. in the Webfin.com chat room on July 26. Buisson used the pseudonym of Patrick Gravel and failed to identify himself as a representative of a securities dealer. The CVMQ’s reasons for this judgment will be available at a later date.
Buisson is not allowed to practice as a securities dealer for a period of four months. The suspension is retroactive to August 4, when he was dismissed from his job. Buisson will only be able to resume his activities on December 4, on condition that he again take the securities trading course and pass the examinations within six months of the issuing of this decision.
Buisson was registered as a dealer with an unrestricted practice for TD Evergreen Advisors Inc. in Ste-Foy when he posted the messages using a pseudonym. The CVMQ says Buisson published information that had been conveyed to him without taking the trouble to find out if it was true and in the knowledge that it could influence the price of Delsecur shares.
As a result of these actions, Buisson ceased to perform the duties of representative of a dealer on and was fired on August 4. At the time of dismissal, he owned shares of Delsecur, as did 25 of his clients.
-IE Staff