The Ontario District Council of the Investment Dealers Association of Canada has imposed discipline penalties on Stanley Nathanson, a former registered rep with Midland Walwyn, (now Merrill Lynch Canada Inc.).

On November 14, 2002, the District Council accepted a settlement agreement in which Nathanson admitted that he executed approximately 72 unauthorized trades in a client’s account for the purpose of generating commissions, and that he offered to compensate this client for resulting losses without the knowledge or consent of Midland Walwyn.

Nathanson must pay a fine $60,000, is required to re-write the Conduct & Practices Handbook exam. He is suspended from any registered capacity for one month, and must file monthly supervision reports for 12 months. He faces potential suspension without notice if he fails to comply with these penalties. Nathanson is also required to pay $4,900 in investigation costs.

In determining these disciplinary penalties, the $200,000 in restitution paid by Nathanson to his client was taken into consideration.

For a complete summary of facts, please see IDA Bulletin No. 3079 at www.ida.ca.