The Ontario District Council of the Investment Dealers Association of Canada has a former BMO Nesbitt Burns Inc. assistant branch manger $25,000 for failing to provide a client with objective or unbiased information.

Under a settlement agreement accepted by the District Council on April 28, Kiedrowski, an assistant branch manager and registered representative at the Mississauga branch of Nesbitt admitted that he failed to provide a client with objective or unbiased information regarding an investment.

The IDA fined Kiedrowski $25,000 and ordered him to rewrite the Conduct and Practices Handbook exam. He is also prohibited from approval to act in any supervisory capacity for three years commencing February 28, 2002, and as a condition of such re-approval, must successfully re-write the Branch Manager’s exam. In addition, he must pay $7,500 in costs.

Kiedrowski continues to work for BMO Nesbitt Burns, but relinquished his managerial duties in February 2002.

For a complete summary of facts, please see IDA Bulletin 3287.