The Ontario District Council of the Investment Dealers Association has imposed discipline penalties on Anthony Petriccione, a former registered rep with Scotia Capital Inc.

Pursuant to a settlement agreement with the IDA,. Petriccione acknowledged that during approximately a seventeen month period, he deposited numerous personal cheques into nine of his clients’ accounts in order to cover margin calls, without the knowledge, consent or authorization of his employer.

Petriccione was ordered to pay a fine of $12,000. In addition, he must pay $3,000 towards the IDA’s costs.