The Ontario District Council of the Investment Dealers Association of Canada has a former registered rep with the Ottawa office of Scotia McLeod Inc. $5,000 for unauthorized trading.

Pursuant to a settlement agreement reached May 13, Klyman admitted that between August 1999 to October 1999, he exercised discretion in effecting trades for a client in accounts in respect of which the client had not given written authorization and the firm had not accepted as discretionary accounts.

The discipline penalties assessed against Klyman include a fine in the amount of $5,000 and disgorgement of commission in the amount of $858.34.

For a complete summary of facts, please see IDA Bulletin No. 3163 at www.ida.ca

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