The Ontario District Council of the Investment Dealers Association of Canada has imposed discipline penalties on Richard Mills, a former registered rep with BMO Nesbitt Burns.

In the settlement agreement with the IDA, Mills acknowledged that he failed to properly supervise Graeme Hamilton, a registered representative, with the handling of the joint accounts of two clients; and failed to ensure that the trading recommendations made were appropriate for the clients’ situation and investment objectives.

The IDA fined Mills $35,000 and ordered him to pay $3,000 towards the costs of the investigation.