The Pacific District Council of the Investment Dealers Association of Canada has fined a supervisor at IPO Capital Corp. in Vancouver $8,000 for failing to prohibit the sale of debtor certificates by a rep at the firm.

On August 10, District Council considered, reviewed and accepted a settlement agreement negotiated between Steven Khan Khan and IDA staff. In the settlement agreement, Khan admitted that, between March 16, 1999 and June 3, 1999, he failed to prohibit one of IPO’s registered representatives, Alan Thomson, from selling debtor certificates of Value Software Corp. to IPO clients.

In addition to the $8,000 fine, Khan must also pay $2,000 towards the IDA’s costs of this matter.

Khan has not been registered in any capacity since April 2003 and has not previously been subject to any disciplinary proceedings by the IDA.

For a complete summary of facts regarding Mr. Khan, please see IDA Bulletin 3337.