Enforcement Notice Decision - IN THE MATTER OF Kathryn Faber - Settlement Accepted

TORONTO, March 21, 2014 /CNW/ - On February 26, 2014, a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) accepted a Settlement Agreement, with sanctions, reached between IIROC staff and Kathryn Faber.

Ms. Faber admitted that she forged client signatures on various account documents.

Specifically, Ms. Faber admitted to the following violation:

(a)  In September 2010, Kathryn Faber forged client signatures on various account documents for three clients, thereby engaging in conduct unbecoming or detrimental to the public interest, contrary to IIROC Dealer Member Rule 29.1.

Pursuant to the Settlement Agreement, Ms. Faber agreed to the following penalties:

(a)  A fine in the amount of $15,000;

(b)  A suspension from registration with IIROC in any capacity for a period of two months; and

(c)  To re-write the Conduct & Practices Handbook examination within six months upon any return to the industry.

Ms. Faber also agreed to pay costs in the amount of $1,000.

The Settlement Agreement is available at http://docs.iiroc.ca/DisplayDocument.aspx?DocumentID=F13266E6AAB74B6DADE6793B9216ED9F&Language=en. and the Hearing Panel's decision will be made available at www.iiroc.ca.

Documents related to ongoing IIROC enforcement proceedings – including Reasons and Decisions of Hearing Panels – are posted on the IIROC website as they become available. Click here to search and access all IIROC enforcement documents.

IIROC formally initiated the investigation into Ms. Faber's conduct in September 2010.  The violation occurred while she was a Registered Representative with a Hamilton branch of TD Waterhouse Canada Inc. Ms. Faber is no longer a registrant with an IIROC-regulated firm.

IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada. Created in 2008 through the consolidation of the Investment Dealers Association of Canada and Market Regulation Services Inc., IIROC sets high quality regulatory and investment industry standards, protects investors and strengthens market integrity while maintaining efficient and competitive capital markets.

IIROC carries out its regulatory responsibilities through setting and enforcing rules regarding the proficiency, business and financial conduct of dealer firms and their registered employees and through setting and enforcing market integrity rules regarding trading activity on Canadian equity marketplaces.

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

All information about disciplinary proceedings relating to current and former member firms is available in the Enforcement section of the IIROC website. Background information regarding the qualifications and disciplinary history, if any, of advisors currently employed by IIROC-regulated firms is available free of charge through the IIROC AdvisorReport service. Information on how to make investment dealer, advisor or marketplace-related complaints is available by calling 1 877 442-4322.

SOURCE: Investment Industry Regulatory Organization of Canada (IIROC) - General News

For further information: Enforcement Contact: Elsa Renzella, Vice President, Enforcement, 416 943-5877, erenzella@iiroc.ca; Media Contact: Karen Archer, Senior Media and Public Affairs Specialist, 416 865-3046, karcher@iiroc.ca


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