The Investment Dealers Association of Canada has set a date for hear allegations regarding First Delta Securities Inc.

The hearing relates to allegations that First Delta Securities Inc. violated association regulations by failing to exercise due diligence in learning the essential facts relative to several of its clients, their accounts and the trade orders made for those accounts.


In addition, the IDA alleges that George Trusler, Frederick Meredith Jr. and Gail Stopforth permitted new client accounts to be opened without approval, and failed to adequately supervise accounts for which Dimitrios Boulieris was the Registered Representative.

The IDA also alleges that Trusler failed to establish and maintain effective account supervision procedures for First Delta.

The IDA also alleges that First Delta failed to maintain sufficient margin in an account, and that First Delta and Gordon Baker engaged in a business conduct or practice that is unbecoming and detrimental to the public interest by failing to report trading to Canadian Dealing Network Inc.

The hearing is scheduled to commence at on January 18, at the offices of the Investment Dealers Association of Canada in Toronto.