VANCOUVER, Dec. 20 /CNW/ - A Hearing Panel of the Investment Dealers
Association of Canada (IDA), appointed pursuant to By-law 20, has imposed
discipline penalties upon Geoffrey Allen Wall, at all material times an
Approved Person with the Vancouver head office of Wolverton Securities Ltd., a
Member firm of the IDA.
A Hearing Panel considered, reviewed, and accepted a Settlement Agreement
negotiated between staff of the IDA's Enforcement Department and Mr. Wall.
Pursuant to the Settlement Agreement, Mr. Wall admitted that from April 2003
to October 2005, without the knowledge and consent of his employer, he
personally compensated a client for transactions that were executed on behalf
of investment accounts for which he was the registered representative,
contrary to By-law 29.1.
In considering penalty, the Hearing Panel took into account that Mr. Wall
had no prior disciplinary history and cooperated fully with IDA staff
throughout the course of the investigation.
For his misconduct, Mr. Wall has been fined $20,000 and is required to
pay $3,000 in costs. In addition, Mr. Wall must re-write and pass the exam
based on the Conduct and Practices Handbook prior to being eligible for
registration and must be closely supervised for a 12 month period upon
registration with the industry
Mr. Wall has not been employed with an IDA Member firm since October
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
role. It is IDA policy to ensure that where relevant, referrals to the
appropriate policing authority are made.
For further information:
For further information: Warren Funt, Vice-President, Western Canada,
(604) 331-4750 or email@example.com; Jeff Kehoe, Director, Enforcement Litigation,
(416) 943-6996 or firstname.lastname@example.org