A hearing panel of the Investment Dealers Association of Canada has permanently banned a Edmonton broker for failing to cooperate with an IDA investigation.

John Stewart was a registered representative with the Edmonton branch office of Union Securities Ltd.

Following a disciplinary hearing held on March 2, 2005, a hearing panel found that Stewart failed to cooperate with an IDA investigation. Stewart did not file a response and did not appear at the hearing as requested. The hearing proceeded without him in attendance.

The hearing panel assessed Stewart a permanent ban on registration in any capacity with the IDA and a $50,000 fine.

In addition, Stewart must pay $11,165.00 in IDA costs.