Immediately terminated relationship with independent sales representative for violating company policies and completed third party audit
MISSISSAUGA, ON, June 2, 2015 /CNW/ - Knowledge First Financial terminated its business relationship with Poly Edry, an independent sales representative, for violating the company's policies and procedures on November 13, 2014. The termination was a result of an investigation by the company and a concurrent investigation by the Ontario Securities Commission (OSC) and law enforcement.
The termination of Ms. Edry is related to a breach of maternity patients' confidential personal data that took place in the Rouge Valley Health System in Scarborough. It was discovered that Ms. Edry and her husband, Gavriel Edry, who was not employed by, or affiliated with, Knowledge First Financial, collaborated in purposeful deception. This incident involved data from the Rouge Valley Health System, not Knowledge First Financial customer data.
The OSC notified Knowledge First Financial on October 28, 2014, of their investigation and, Knowledge First Financial immediately suspended Ms. Edry, launched an internal investigation into the matter, and transitioned operations of her branch to head office.
Knowledge First Financial also completed a third party audit of operations to ensure that no other branch was involved in this matter. Knowledge First Financial has fully cooperated with the OSC and law enforcement.
"We are sorry this incident has violated public trust. We are extremely disappointed by the behavior of this individual and it is not indicative of our commitment to ethical business practices, which is unwavering. Knowledge First Financial does not condone any activity that violates our policies, or illegally obtains information about individuals," said George Hopkinson, President and CEO, Knowledge First Financial.
"Knowledge First Financial will continue to fully cooperate with the OSC and law enforcement in their investigation. Our internal investigation was strengthened by the work of the third party audit firm," said Darrell Bartlett, Chief Compliance Officer, Knowledge First Financial.
Customers with questions about Knowledge First Financial's policies and procedures can go to www.knowledgefirstfinancial.ca or call 1-844-236-3482.
About Knowledge First Financial
Knowledge First Financial is a wholly owned subsidiary of the Knowledge First Foundation, a not-for-profit foundation, which is the administrator, distributor and investment fund manager of education savings plans. Since 1965, Knowledge First has paid out $3 billion and has helped hundreds of thousands of Canadian families save for post-secondary education by providing peace of mind savings solutions. Today more than 250,000 families have RESPs with Knowledge First. Knowledge First's independent Board of Directors is composed of individuals who have distinguished themselves in business, law, education, politics and many other fields.
Please visit our website for additional details. www.knowledgefirstfinancial.ca
SOURCE Knowledge First Financial
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