A hearing panel of the Investment Dealers Association of Canada permanently banned a Calgary broker and ordered him to pay a $40,000 fine for unauthorized trading and issuing misleading documents.

Darrell Osadchuk was an approved person with the Calgary office of Research Capital Corp.

On Nov. 21, 2005, the panel accepted a settlement agreement negotiated between IDA staff and Osadchuk.

Osadchuk admitted that from February 2001 to April 2002, he engaged in unauthorized trading in the accounts of two clients, and issued to those same clients false and misleading documents as to the holdings in their accounts.