The Ontario District Council of the Investment Dealers Association of Canada has imposed discipline penalties on Aubrey Katz, a former registered rep with Desjardins Securities Inc..

Following a hearing on April 2, the council found that Katz failed to appear before an investigation being conducted by the IDA’s Enforcement Department.

Katz’ registration with the IDA has been suspended for a period of 90 days. He was also ordered to pay a $50,000 and give his full cooperation to the investigation.

“Timely conclusion of investigations and complaints is essential for our discipline process and this requires the cooperation of the industry. If that cooperation is unreasonably withheld we are prepared to take immediate discipline action and to seek serious penalties” Alex Popovic, vice president, Enforcement, stated.