The Ontario District Council of the Investment Dealers Association of Canada has imposed discipline penalties on Dimitrios Boulieris for manipulating the market.

On Sept 30, 2002, the District Council found that Boulieris engaged in conduct unbecoming a registrant while he was a registered representative at First Delta Securities Inc. Boulieris carried out trading for a client who had told Boulieris that he would attempt to manipulate the market price of a security.

The District Council found there was not sufficient evidence against Boulieris in respect of other allegations made at the time.

On January 17, 2003, the District Council ordered Boulieris to be placed under strict supervision for a period of two years. Such strict supervision would commence when and if he finds employment with an IDA member firm.

The District Council also ordered that Boulieris rewrite the Conduct and Practices Handbook examination and pay $5,000 costs in relation to this matter.

Staff of the Investment Dealers Association has applied to the Ontario Securities Commission for a review of the Ontario District Council decision. Review is being sought with respect to both the merits of the case and penalty imposed.

For a complete summary of facts, please see IDA Bulletin No. 3118 at www.ida.ca.