The Investment Dealers Association of Canada (IDA) announced Thursday that Gerald Danny Stefaniuk has been suspended indefinitely by the self-regulatory organization.

After an expedited hearing, an IDA panel also ordered that Stefaniuk immediately cease dealing with the public.

In 2002, Stefaniuk was a registered representative (RR) at Golden Capital Securities Ltd. in Vancouver. Since Nov. 22, 2007 and up to the date of the order he was a rep at First Canada Capital Partners Inc. in Vancouver.

The IDA didn’t say why Stefaniuk was suspended, but in a statement it said that it may hold an expedited hearing “where an approved person has been charged with a criminal offence relating to theft, fraud, misappropriation of funds or securities, forgery, money laundering, market manipulation, insider trading, misrepresentation or unauthorized trading, and such criminal charge likely brings the capital markets into disrepute.”

The panel said it will provide written reasons for its decision in due course.