The Ontario District Council of the Investment Dealers Association of Canada has fined a registered rep at the Ottawa branch of BMO Nesbitt Burns Inc. $20,000 for recommending trades that were not in her clients’ best interests.

On December 4, the District Council accepted a settlement agreement with Nancy Lett. Lett admitted that she failed to observe high standards of ethics and conduct in the transaction of her business, by recommending trades in five client accounts that were not in the clients’ best interests.

Lett was fined $20,000 including costs, and was ordered to successfully complete the Conduct and Practices Handbook exam within six months and be subject to supervision for 12 months.

For a complete summary of facts, please see IDA Bulletin 3229 at www.ida.ca.