A hearing panel of the Investment Dealers Association of Canada (IDA) has fined and suspended a Vancouver broker for unauthorized trading in client accounts.

Young Ho Kim was an approved person with the Vancouver offices of BMO Nesbitt Burns Inc. and Canaccord Capital Corp.

On October 11, the panel considered, reviewed and accepted a settlement agreement negotiated between IDA and Kim.

Kim admitted that between April 2002 and June 2002 and between December 2003 and June 2004, he effected discretionary transactions in two joint accounts without the accounts having been approved and designated as discretionary accounts by his member firm.

In addition, Kim admitted that in February 2005, he attempted to personally settle a client complaint without the knowledge or consent of his firm.

For his misconduct, the IDA fined Kim $20,000 and ordered him t disgorge $2,168 in commissions and fees. He is also prohibited from seeking registration approval with any IDA Member firm for a period of six months and will be subject to close supervision for a period of 12 months upon any subsequent re-entry into the industry. In addition, Kim must rewrite and pass the Conduct and Practices Handbook exam and pay $5,000 in costs.

On March 8, 2006, Canaccord terminated Kim. He is no longer employed with an IDA firm.

For a complete summary of facts, please see IDA Bulletin 3578.