TORONTO, April 18 /CNW/ - A Hearing Panel of the Investment Dealers
Association of Canada (IDA), appointed pursuant to By-law 20, has imposed
discipline penalties on Michael Joseph Puccini, at all material times a
Registered Representative with the Halifax branch of TD Waterhouse Canada
Inc., a Member of the IDA.
Following a disciplinary hearing held on March 28, 2007, in Halifax, Nova
Scotia, the Hearing Panel found Mr. Puccini guilty of engaging in conduct
detrimental to the public interest, contrary to By-law 29.1 in that, between
May 2005 and October 2005, he carried out unauthorized trading in two clients'
accounts without their knowledge or consent; in October 2005, he opened a
margin account without a client's knowledge or consent, and forged the
signature of a second client on the margin account opening application; and
forged the signature of another client on a security subscription agreement.
Further, on July 24, 2006, Mr. Puccini refused and/or failed to attend
and give information in respect to an investigation being conducted by the
IDA's Enforcement Department, contrary to By-law 19.5.
For his misconduct, Mr. Puccini is permanently banned from approval with
the IDA, fined $150,000 and must pay $17,371 in costs.
Mr. Puccini has not been registered with an IDA Member firm since
November 15, 2005.
For a complete summary of facts, please see IDA Bulletin 3619 at
www.ida.ca or www.accovam.ca.
The Investment Dealers Association of Canada (IDA) is the national
self-regulatory organization of the securities industry. The IDA's mission is
to protect investors, foster market integrity and enhance the efficiency and
competitiveness of the Canadian capital markets. The IDA enforces rules and
regulations regarding the sales, business and financial practices of its
Member firms and their approved persons. Investigating complaints and
disciplining Members and approved persons is part of the IDA's regulatory
For further information:
For further information: Alex Popovic, Vice President, Enforcement,
(416) 943-6904 or firstname.lastname@example.org; Jeff Kehoe, Director, Enforcement
Litigation, (416) 943-6996 or email@example.com