IDA Hearing Panel fines Ronald Keith Furevick $35,000; imposes 10 year suspension from supervisory role



    TORONTO, Aug. 28 /CNW/ - A Hearing Panel of the Investment Dealers
Association of Canada (IDA), appointed pursuant to By-law 20, has imposed
discipline penalties on Ronald Keith Furevick, at all material times an
Approved Person at the Peterborough branch of Desjardins Securities Inc., a
Member of the IDA.
    Following a disciplinary hearing held on July 20, 2007, a Hearing Panel
accepted an Agreed Statement of Facts jointly submitted by IDA Enforcement
staff and Mr. Furevick. In the Statement of Facts, Mr. Furevick admitted that
he had contravened By-law 29.1 by failing to disclose that he was the
beneficial owner of an account in the name of Donald Verhash; that he had
misrepresented to his employer's sales compliance staff that transactions in
that account were being directed by Donald Verhash; and that he had conducted
unauthorized trading in five accounts belonging to five different clients,
none of whom suffered losses but were unnecessarily exposed to market risk of
which they were not aware.
    For his misconduct, Mr. Furevick has been fined $35,000 and must pay
$25,000 in costs. He has also been assessed an 18 month suspension from
approval in any capacity commencing on January 1, 2006; a 10 year suspension
of approval in any supervisory capacity, including Branch Manager, Chief
Compliance Officer and Ultimate Designated Person, commencing on January 1,
2006; a condition that he re-write and pass the examination based on the
Conduct and Practices Handbook before being re-approved in any capacity; and a
one year period of close supervision upon re-approval.
    Mr. Furevick has not been registered with an IDA Member firm since
January 2006.
    For a complete summary of facts, please see IDA Bulletin 3664 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
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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INVESTMENT DEALERS ASSOCIATION OF CANADA

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