(October 13 – 16:30 ET) – The
Alberta District Council of the
Investment Dealers Association of
Canada has imposed discipline
penalties on David Robert
Gauthier, a former registered
representative in the Edmonton,
Alberta branch office of
Midland Walwyn Capital Inc.
Gauthier admitted that he
engaged in business conduct that
was unbecoming and not in the
public interest, by depositing
client funds in his personal bank
account without the knowledge or
consent of his Member firm.
Gauthier also admitted that he
effected transactions in the
account of a client without the
client’s prior authorization and
without benefit of a duly
executed discretionary trading
authorization. Finally, Gauthier
admitted to making recommendations
and purchases for a client’s
account that were unsuitable
given the client’s stated
investment objectives.
The discipline penalty assessed
against Mr. Gauthier is a permanent
prohibition on his registration
in any capacity with the
Association. In addition, Mr.
Gauthier is required to pay
$2,500.00 towards the Association’s
costs of investigation of this
matter.
Mr. Gauthier was terminated by
his firm in September 1997.
-IE Staff
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