(May 25 – 12:00 ET) – The Ontario District Council of the Investment Dealers Association of Canada has imposed discipline penalties on George Georgiou. Georgiou is a former Registered Representative with the Kitchener branch of Midland Walwyn Capital Inc., (now Merrill Lynch Canada Inc.), and the Kitchener branch of Levesque Securities Ltd., (now National Bank Financial Ltd.).
The council fined Georgiou $50,000, and suspended him from acting in any registered capacity with any IDA member for 10 years, commencing January 31, 1995, until January 31, 2005.
Georgiou was fined for effecting discretionary trades in client accounts without authorization, and effecting short sales in client accounts without obtaining signed margin agreements.
-IE Staff