Steven Mathew White, a broker at Scotia Capital Inc., has been permanently barred and fined $50,000 plus costs by the Investment Dealers Association of Canada for failing to co-operate in an investigation.

The IDA said today that following a July 30 hearing its Ontario District Council found that White failed to attend and give information regarding an investigation being conducted by the association’s enforcement department.

“On May 21, 2003, Mr. White was asked to attend an interview and answer the association’s questions,” the IDA said. “The interview was scheduled for June 5 and was rescheduled to June 10th. On June 9 White’s lawyer advised that Mr. White would not attend for the interview. On June 12, 2003, Mr. White’s lawyer confirmed that Mr. White had decided to refuse to co-operate.”

The IDA said the reasons for decision are to follow.

“The discipline penalties assessed against Mr. White are a permanent prohibition on re-approval in any capacity, a fine of $50,000 and costs of $9,200 payable to the association,” the IDA said.