The Ontario District Council of the Investment Dealers Association of Canada has imposed penalties on Anthony Guidoccio, a former branch manager with Midland Walwyn Capital Inc., and its predecessor Midland Doherty Inc.

As part of his settlement agreement, Guidoccio admitted that he engaged in business conduct or practice unbecoming or detrimental to the public interest. He participated in the sale of units of retirement home limited partnerships in which he had an interest, and which were not approved for distribution to clients of his firm.

Guidoccio failed to submit to the IDA a written report setting out that he was the manager of one or more retirement homes. He also failed to obtain regulatory permission to be manager of one or more of the retirement home.

The IDA has barred Guidoccio from approval as a branch manager for two years. The two years are deemed to run from February 1999 to January 2001. Guidoccio has rewritten both the CPH and the Branch Managers Course. Furthermore, he is required to pay $5,000 toward the IDA’s costs of investigation.