MONTREAL, Oct. 11 /CNW/ - A Hearing Panel appointed pursuant to IDA
By-law 20 has imposed discipline penalties on Robert John Travers, at all
material times an Approved Person with the Montreal office of CIBC World
Markets Inc., a Member of the IDA.
Following a settlement hearing held on September 12, 2007, in Montréal,
Québec, the Hearing Panel considered, reviewed and accepted a Settlement
Agreement negotiated between Mr. Travers and staff of the IDA. Pursuant to the
Agreement, Mr. Travers admitted that he acted contrary to By-law 29.1 and
18.14 in that, between June 2000 and October 2002, he had undisclosed personal
business; between March 2000 and May 2002, he borrowed from clients without
the firm's knowledge or consent; in or around May 2002, he defrauded a client;
in or around June 2002, he misappropriated funds belonging to a client; and in
or around May 2002, he breached an undertaking to the firm to not solicit any
further loans from clients. The IDA initiated an investigation into the
conduct of Mr. Travers following the receipt of the Uniform Termination Notice
on October 21, 2002.
For his misconduct, Mr. Travers has been assessed a permanent prohibition
on registration as a registered representative with the IDA.
Mr. Travers has not been registered with an IDA Member firm since October
For a complete summary of facts, please see IDA Bulletin 3680 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: Carmen Crépin, Vice-President, Québec, (514)
878-2854 or email@example.com; Jeffrey Kehoe, Director, Enforcement Litigation,
(416) 943-6996 or firstname.lastname@example.org