Hearing Notice - CIRO schedules date for Hearing on the Merits in the matter of Erika Fawcett

TORONTO, Jan. 2, 2024 /CNW/ - A hearing has been scheduled before a hearing panel of the Ontario District Hearing Committee of the Canadian Investment Regulatory Organization (CIRO) under the Mutual Fund Dealer Rules in the matter of Erika Fawcett (the Respondent).

The hearing is open to the public unless the panel orders otherwise. The decision of the hearing panel will be made available at www.ciro.ca.

Hearing Date:                         February 29, 2024 at 10:00 a.m. (Eastern Time)

Location:                                Toronto, Ontario (via Videoconference)

Members of the public who would like to obtain further particulars should fill out this questionnaire.

The hearing concerns allegations that Erika Fawcett 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 Notice of Hearing, which set out the allegations, are available at:

Erika Fawcett – Notice of Hearing

During the period described in the Notice of Hearing, the Respondent conducted business in the London, Ontario area.

A copy of the Notice of Hearing is available on the MFDA website at www.mfda.ca.

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All information about disciplinary proceedings relating to current and former member firms and individual registrants under the Investment Dealer and Partially Consolidated Rules (for investment dealers), the Mutual Fund Dealer Rules (for mutual fund dealers) and the Universal Market Integrity Rules (UMIR) is available on CIRO's website.

Background information regarding the qualifications and disciplinary history, if any, of advisors currently employed by CIRO-regulated investment firms is available free of charge through the AdvisorReport service. Information on how to make investment dealer, advisor or marketplace-related complaints is available by calling 1-877-442-4322.

CIRO investigates possible misconduct by its member firms and individual registrants. It can bring disciplinary proceedings which may result in sanctions including fines, suspensions, permanent bars, expulsion from membership, or termination of rights and privileges for individuals and firms.

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, [email protected], Phone: [phone]