The Ontario District Council of the Investment Dealers Association has ordered Woody Wood-Keung Wu, a former rep with TD Evergreen Securities Inc., to pay a $35,000 fine for a series of off-book transactions.

The district council found that Wu participated in a series of off-book transactions in the distribution of certain shares and repurchased certain shares from numerous dissatisfied customers. Wu did not advise Evergreen of these transactions or of client complaints.

In assessing the $35,000 fine, the district council noted that Wu’s “violations were of the utmost gravity”. Wu must also pay $7,500 toward investigation costs.

The district council said should Wu wish to return to the industry, he must also rewrite the Conduct and Practices Handbook exam and be subject to strict supervision for one year.