Notice to Public: Set date application in the matter of Steven James Westman



    TORONTO, Sept. 4 /CNW/ - The Investment Dealers Association of Canada
(IDA) announced today that a hearing will be held before a Hearing Panel
appointed pursuant to By-law 20 in respect of matters for which Steven James
Westman, at all material times a Registered Representative at Merrill Lynch
(now CIBC World Markets) in Winnipeg, Manitoba, may be disciplined.

    
    The hearing relates to allegations that Mr. Westman:

    (i)    between May 1999 and October 2000, failed to use due diligence to
           ensure that the recommendations made for a client were appropriate
           for that client and in keeping with its investment requirements
           and restrictions, as set out in that client's investment Framework
           Agreement, contrary to Regulation 1300.1(c);
    (ii)   in February and March 2001, failed to use due diligence to learn
           the essential facts relative to every order accepted, contrary to
           Regulation 1300.1(a), in that he did not adequately inform himself
           as to the nature or details of two income trusts, before
           recommending the purchase of these securities to his client; and
    (iii)  in February and March 2001, failed to use due diligence to ensure
           that the recommendations made for a client were appropriate for
           that client and in keeping with that client's investment
           objectives, contrary to Regulation 1300.1(c).
    

    The hearing date will be fixed by a Hearing Panel on Friday, September
14, 2007, at a teleconference call conducted from the Toronto Association
office, 121 King Street West, Suite 1600, Boardroom 2, at 2:00 p.m. EST or as
soon thereafter as the hearing can be heard. The hearing is open to the public
except as may be required for the protection of confidential matters. Copies
of the decision of the Hearing Panel will be made available. Mr. Westman is no
longer registered with an IDA Member firm.

    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.





For further information:

For further information: Alex Popovic, Vice-President, Enforcement,
(416) 943-6904 or apopovic@ida.ca; Jeff Kehoe, Director, Enforcement
Litigation, (416) 943-6996 or jkehoe@ida.ca

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IDA

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INVESTMENT DEALERS ASSOCIATION OF CANADA

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