The Pacific District Council of the Investment Dealers Association of Canada has imposed discipline penalties on Christopher Hilliard, at the relevant times a registered representative with ScotiaMcLeod Inc.

As part of a settlement approved on January 21, Hilliard admitted that he effected unauthorized trades, recommended an unsuitable investment, failed to obtain adequate margin from a client, and effected purchases of securities for a client without adhering to restrictions imposed by his firm.

Hilliard is fined $75,000, is prohibited from re-approval for two years from May 15, 2001, and as a condition of re-approval must successfully rewrite the Conduct & Practices Handbook exam and be closely supervised for two years.

Hilliard must also pay $4,950 towards the IDA’s costs.

For a complete summary of facts, please see IDA Bulletin No. 3110 at www.ida.ca.