The Investment Industry Regulatory Organization of Canada has fined a former Kelowna, B.C. rep $30,000 for violating trading rules.

An IIROC hearing panel has accepted a settlement agreement with William Geddes. The allegations occurred when he was a registered representative with the Kelowna business location of National Bank Financial Ltd.

Geddes admitted that between December 2007 and October 2008 he entered buy orders he ought reasonably to have known would create or could reasonably be expected to create an artificial sale price for the security.

Geddes agreed to a $30,000 fine, a 60-day suspension from registration, and successful completion of the Conduct and Practices Handbook Course by September 30. He also agreed to pay $1,500 in costs.

IIROC formally initiated the investigation into Geddes’ conduct in November 2008. He is currently a registered rep with the Whistler, B.C. business location of National Bank Financial Ltd.

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Correction: An earlier version of this story failed to make clear that William Geddes is no longer with the Kelowna location of National Bank Financial Ltd.