A Hearing Panel of the Investment Dealers Association of Canada (IDA), has imposed discipline penalties on Stacey Trevor Symonds, at all material times a registered representative employed by the Kentville, Nova Scotia branch of CIBC World Markets Inc., operating as CIBC Wood Gundy.

On April 26, the panel considered, reviewed, and accepted a settlement agreement negotiated between Symonds and staff of the IDA. Symonds admitted that between March 2004 and November 2004, he conducted discretionary trades in three client accounts without the accounts being specifically approved and accepted as discretionary accounts,.

For his misconduct, Symonds was fined $20,000 and must pay $3,000 in costs. He will also be required to be under strict supervision for a period of 12 months upon any subsequent registration with a member firm, and must successfully complete the Conduct and Practices Handbook exam within six months from any subsequent registration with a member firm.

Symonds is no longer employed with an IDA firm.

For a complete summary of facts, please see IDA Bulletin 3635 at www.ida.ca or www.accovam.ca.