CIRO announces disciplinary proceeding in respect of Erika Fawcett

TORONTO, Oct. 31, 2023 /CNW/ - The Canadian Investment Regulatory Organization ("CIRO") has commenced disciplinary proceedings in respect of Erika Fawcett (the "Respondent"). In its Notice of Hearing dated October 5, 2023 (the "Notice of Hearing"), Staff of CIRO alleges that the Respondent engaged in the following violations of the Mutual Fund Dealer Rules:

Allegation #1: Between July 28, 2017 and September 28, 2021, the Respondent conducted trading activity in respect of clients who resided in provinces where the Respondent was not registered, contrary to the Dealer Member’s policies and procedures and Mutual Fund Dealer Rules 1.1.5, 2.1.1 and 1.1.2 (as it relates to 2.5.1) (formerly MFDA Rules 1.1.5, 2.1.1, 1.1.2, and 2.5.1).

Allegation #2: Between October 9, 2020 and March 2021, the Respondent photocopied four client account forms that had been previously signed by clients and altered information on the account forms to complete four new transactions, contrary to Mutual Fund Dealer Rule 2.1.1 (formerly MFDA Rule 2.1.1).

Allegation #3: Between March 29, 2020 and January 20, 2021, the Respondent altered and used to process transactions, five account forms in respect of three clients, by altering information on the account forms without having the clients initial the alterations, contrary to Mutual Fund Dealer Rule 2.1.1 (formerly MFDA Rule 2.1.1).

Allegation #4: Between July 29, 2016 and July 15, 2021, the Respondent obtained, possessed and used to process transactions, 32 pre-signed account forms in respect of 9 clients, contrary to Mutual Fund Dealer Rule 2.1.1 (formerly MFDA Rule 2.1.1).

The first appearance in this proceeding will take place electronically by videoconference before a Hearing Panel of CIRO's Ontario District Hearing Committee on November 30, 2023 at 10:00 a.m. (Eastern), or as soon thereafter as the appearance can be held, to schedule a date for the commencement of the hearing on the merits and to address any other procedural issues. The appearance will be open to the public, except as may be required for the protection of confidential matters. Members of the public who would like to listen to the videoconference should contact [email protected] to obtain particulars.

A copy of the Notice of Hearing is available on the MFDA website at www.mfda.ca. During the period described in the Notice of Hearing, the Respondent conducted business in the London, Ontario area.

The Canadian Investment Regulatory Organization (CIRO) is the national self-regulatory organization that oversees all investment dealers, mutual fund dealers and trading activity on Canada's debt and equity marketplaces. CIRO is committed to the protection of investors, providing efficient and consistent regulation, and building Canadians' trust in financial regulation and the people managing their investments. For more information, visit www.ciro.ca.

SOURCE Canadian Investment Regulatory Organization (CIRO)

Joanna Nicholson, Manager, Public Affairs, [phone], [email protected]