TORONTO, Sept. 5 /CNW/ - A Hearing Panel of the Investment Dealers
Association of Canada (IDA), appointed pursuant to By-law 20, has imposed
discipline penalties on Davor Dave Milardovic, formerly an Approved Person
with the Toronto branch of IPC Securities Corporation, a Member of the IDA.
Following a disciplinary hearing on July 27, 2007, a Hearing Panel found
that Mr. Milardovic failed to cooperate in an IDA investigation in that he
failed to attend interviews scheduled by IDA staff on January 11, 2007, and on
May 9, 2007, contrary to By-law 19.5. The interviews were being conducted as
part of an investigation into the circumstances surrounding Mr. Milardovic's
dismissal from IPC Securities Corporation.
For his misconduct, Mr. Milardovic has been fined $50,000 and must pay
$8,000 in costs. He has also been assessed a permanent prohibition from
approval in any capacity.
Mr. Milardovic has not been employed with an IDA Member firm since March
For a complete summary of facts, please see IDA Bulletin 3665 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: Jeff Kehoe, Director, Enforcement Litigation,
(416) 943-6996 or firstname.lastname@example.org; Connie Craddock, Vice-President, Public
Affairs, (416) 943-5870 or email@example.com