The Investment Dealers Association today said it will hold an Oct. 22 hearing in Montreal to consider a settlement agreement with Dan Ionescu, a former registered rep with iForum Securities Inc.

“The offences occurred between May 2003 and January 2004 and pertain to a lack of due diligence on the part of Mr. Ionescu to ascertain that the investments made by certain clients respected the provisions of the Securities Act, the whole contrary to By-law 29.1,” the IDA said in a press statement.

Ionescu has not worked in the industry since January 2007.

The hearing is not open to the public unless and settlement agreement has been accepted by the hearing panel.