IDA Hearing Panel imposes permanent ban and fines Ivan Djordjevic $50,000

    TORONTO, Nov. 22 /CNW/ - A Hearing Panel of the Investment Dealers
Association of Canada (IDA), appointed pursuant to By-law 20, has imposed
discipline penalties on Ivan Djordjevic, at all material times an Approved
Person at the Toronto office of Desjardins Securities Inc., an IDA Member
    Following a disciplinary hearing on July 17, 2007, Mr. Djordjevic was
found to have forged the signature of client AG on an unlimited guarantee for
the purposes of having AG guarantee the account of client PW, contrary to
By-law 29.1. AG and PW were both clients of Mr. Djordjevic and did not know of
each other until November 2005, at which time Mr. Djordjevic told AG that he
had linked his account with PW. The Panel accepted the evidence of the IDA's
expert witness, who testified that the signature on the guarantee was forged.
    In the result, the Panel found that there was clear and convincing proof,
based on cogent evidence, that the signature of AG on the guarantee was forged
and Mr. Djordjevic was the person who had forged the signature. This matter
has been referred to the police.
    For his misconduct, Mr. Djordjevic has been permanently banned from
approval with an IDA Member firm. In addition he has been fined $50,000 and
must pay $15,000 in costs.
    The Panel commented that Mr. Djordjevic's conduct was deliberate and
deceptive and violated the bond of trust between registered representative and
client. The Panel concluded that a lifetime ban was appropriate and necessary
in view of the egregious nature of his conduct and to prevent a reoccurrence
of this type of activity.
    Mr. Djordjevic has not been registered with an IDA Member firm since
November 2005.

    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: Alex Popovic, Vice President, Enforcement,
(416) 943-6904 or; Jeff Kehoe, Director, Enforcement
Litigation, (416) 943-6996 or

Organization Profile


More on this organization


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890