The Alberta District Council of the Investment Dealers Association of Canada has fined Jerry Johnson, a former futures rep with Scotia McLeod Inc., $100,000 for engaging in, and failing to disclose personal financial dealings with clients.

Johnson admitted the conduct in an amended settlement agreement with the IDA. He also admitted that he failed to maintain adequate records, specifically third-party trading authorization.

As Johnson is currently an undischarged bankrupt, the IDA agreed that the fine and $4,250 in costs pursuant to the settlement agreement will be treated as a claim provable in his bankruptcy.

As a condition of his continued approval in any capacity with an IDA member firm, Johnson must file monthly supervision reports for 12 months, and successfully complete both the Ethics Module and Case Study and the Conduct and Practices Handbook exam, administered by the Canadian Securities Institute.

For a complete summary of facts, please see IDA Bulletin 3215 at www.ida.ca.