IDA Hearing Panel fines Dan Ionescu $10,000

    MONTREAL, Nov. 26 /CNW/ - A Hearing Panel of the Investment Dealers
Association of Canada (IDA), appointed pursuant to By-law 20 has imposed
discipline penalties on Dan Ionescu, at all material times an Approved Person
with the Montreal branch office of iForum Securities Inc., a former Member
firm of the IDA.
    Following a settlement hearing, the Hearing Panel considered, reviewed
and accepted a Settlement Agreement negotiated between staff of the IDA and
Mr. Ionescu. Pursuant to the Agreement, Mr. Ionescu admitted that, between May
2003 and January 2004, he failed to exercise due diligence in facilitating an
investment in a hedge fund that had not been approved for distribution in
Quebec, thereby engaging in conduct unbecoming or detrimental to the public
interest, contrary to By-law 29.1. This matter was referred to the IDA by
Market Regulation Services Inc. in September 2006.
    In determining penalty, the Hearing Panel noted that Mr. Ionescu did not
have a disciplinary history, cooperated in the investigation and readily
admitted his wrongdoing. For his misconduct, Mr. Ionescu has been fined
$10,000 and is required to re-write the Conduct and Practices Handbook Course
within 6 months
    Mr. Ionescu is currently not 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

For further information:

For further information: Carmen Crépin, Vice-President, Québec, (514)
878-2854 or; Jeffrey Kehoe, Director, Enforcement Litigation,
(416) 943-6996 or

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