(September 15 – 11:05 ET) – The Pacific District Council of the Investment Dealers Association of Canada has imposed discipline penalties on Ian Scott- Moncrieff, a former rep at the Victoria, B.C. branch office of Midland Walwyn Capital Inc.

Scott-Moncrieff has acknowledged that he made trades in two accounts of a client, when he did not have proper authorization. He also failed to ensure that the new account application form for one of the client’s accounts did not document the client’s investment objectives.

A fine of $15,000 was levied against Scott-Moncrieff As a condition of re-approval by the Association in any registered capacity, he must re-write and pass the “Conduct and Practices Handbook for Securities Industry Professionals” exam. He is also required to pay $6,500 toward the
Association’s investigation costs.

Scott-Moncrieff is no longer registered with the IDA. The conduct of the branch manager remains under consideration by the Association.
-IE Staff