IDA Hearing Panel dismisses all charges against Geoffrey Bruce Schmidt

    TORONTO, June 20 /CNW/ - A Hearing Panel of the Investment Dealers
Association of Canada (IDA) appointed pursuant to By-law 20 has declined to
proceed with the charge of failing to cooperate, contrary to By-law 19.5,
against Geoffrey Bruce Schmidt, formerly a Registered Representative (Options)
at the North York branch office of BMO Nesbitt Burns Inc.
    At the disciplinary hearing of March 27, 2007, Mr. Schmidt told the Panel
that he was now prepared to attend for the required interview. As a result,
the Hearing Panel made an order for his attendance and adjourned the
proceeding to May 1st, if necessary. According to the Hearing Panel, this
order was based upon an understanding that if Mr. Schmidt attended for the
interview as ordered then the matter would not proceed any further.
    On May 1, 2007, IDA staff advised the Hearing Panel that Mr. Schmidt had
attended for the interview as ordered. In light of the circumstances of the
March 27 hearing and the order then issued, the Panel ruled that to proceed
with the charge would be unfair and unjust to Mr. Schmidt and dismissed the
charges without costs.
    Mr. Schmidt has not been registered with an IDA Member firm since
September 27, 2005.
    For a complete summary of facts, please see IDA Bulletin 3637 at or

    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; Connie Craddock, Vice-President, Public
Affairs, (416) 943-5870 or

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