A hearing panel of the Investment Dealers Association of Canada has imposed discipline penalties on Michael Joseph Puccini, at all material times a registered representative with the Halifax branch of TD Waterhouse Canada Inc.

Following a disciplinary hearing held on March 28 in Halifax, the panel found Puccini guilty of engaging in conduct detrimental to the public interest. between May 2005 and October 2005, he carried out unauthorized trading in two clients’ accounts without their knowledge or consent.

In October 2005, he opened a margin account without a client’s knowledge or consent, and forged the signature of a second client on the margin account opening application. As well, he forged the signature of another client on a security subscription agreement.

Further, on July 24, 2006, Puccini refused and/or failed to attend and give information in respect to an investigation being conducted by the IDA’s Enforcement Department.

For his misconduct, Puccini is permanently banned from approval with the IDA, fined $150,000 and must pay $17,371 in costs.

Puccini has not been registered with an IDA member firm since Nov. 15, 2005.

For a complete summary of facts, please see IDA Bulletin 3619 at www.ida.ca.