A hearing panel of the Investment Dealers Association of Canada has imposed discipline penalties upon Bruce Calvin Deck, an approved person with the Prince George, B.C. office of TD Waterhouse Canada Inc.

On May 22, the panel accepted a settlement agreement negotiated between staff of the IDA’s Enforcement Department and Deck. Deck admitted that:

– Between January 2000 and October 2003, he effected the participation in off-book transactions on behalf of TDBI and TDBJV, two investment clubs;

– Between March 2003 and October 2003, he engaged in personal financial dealings with clients in that he invested either directly or indirectly, with his clients in TDBI and TDBJV, without the knowledge, consent or authorization of TD;

– Between April 2003 and April 2004, he engaged in poor business practices by causing a bank draft to be issued from a client’s TD account without that client’s consent and subsequently withholding that bank draft from the client;

– On February 24, 2003, he engaged in personal financial dealings with a client in that he loaned that client monies without the knowledge, consent or authorization of TD; and

– Between November 1997 and March 2004, he failed to fully disclose to TD about his involvement with TDBI and his involvement as a director, president and secretary for another company, Canadian Wealth Management Corporation.

For his misconduct, Deck was fined $138,212 and must pay $15,000 in costs.

In addition, he is prohibited from re-approval in any registered capacity for two years and as a condition of re-approval, he must be under strict supervision for 12 months and successfully re-write and pass the examination based on the Conduct & Practices Handbook Course and the Canadian Securities Course.

Deck has not been registered with an IDA member firm since April 30, 2007.

For a complete summary of facts, please see IDA Bulletin 3640.