The Quebec District Council of the Investment Dealers Association of Canada has a former TD Securities Inc. (Evergreen Division) in Montreal for failing to disclose his interest the account of an offshore corporation.

Following a disciplinary hearing on Nov. 12, 2003, the District Council found that Fred Dimitriadi opened an account in the name of an offshore corporation and failed to disclose that he had a financial interest in, and authority over, the account.

Dimitriadi failed to provide true and accurate answers regarding the account of the corporation to the firm’s compliance department, and failed to designate as “pro” more than 847 orders in the account of the corporation.

Dimitriadi also traded on new issues in respect of which professionals are not allowed to trade, using an account of a corporation of which he was the sole beneficial owner.

The IDA fined Dimitriadis a total of $50,245.64, including the disgorgement of pecuniary benefits, and ordered him to pay $15,000 in costs.

He is prohibited from approval as director, officer, manager or assistant manager of a branch office for a period of three years.

For a complete summary of facts, please see IDA Bulletin 3246 at www.ida.ca.