The Ontario District Council of the Investment Dealers Association of Canada has imposed discipline penalties on Joseph Lafleur, at the relevant time a branch manager and registered representative with TD Securities Inc.

As part of a settlement agreement, Lafleur acknowledged that he failed to report a trading error and related client complaint to TD Securities Inc. for a period of five months, and that he solicited financial assistance from a client.

In its deliberations, the council recognized that Lafleur had no previous disciplinary record with the IDA, that he had been absent from the securities industry for two years, that he had cooperated fully with the IDA investigation and that he made a full admission of his conduct to TD Securities Inc. and the IDA.

Lafleur was fined $15,000, and suspended from acting in a supervisory capacity with any Member of the IDA for seven years. He was ordered to rewrite and pass the examination based on the Conduct and Practices Handbook, and must file monthly close supervision reports with the IDA for 12 months. Lafleur must also pay $3,000 towards the IDA’s costs of the investigation.