A hearing panel of the Investment Dealers Association of Canada (IDA) has fined Geoffrey Wall, a former broker at Wolverton Securities Ltd. in Vancouver.

Wall admitted that from April 2003 to October 2005, without the knowledge and consent of his employer, he personally compensated a client for transactions that were executed on behalf of investment accounts for which he was the registered representative.

When considering a penalty, the panel took into account the fact that Wall had no prior disciplinary history and cooperated fully with IDA staff throughout the course of the investigation.

Wall has been fined $20,000 and is required to pay $3,000 in costs. In addition, he must re-write and pass the exam based on the Conduct and Practices Handbook prior to being eligible for registration and must be closely supervised for a 12 month period upon registration with the industry

Wall has not been employed with an IDA member firm since October 2006.