VANCOUVER, Sept. 14 /CNW/ - In a settlement agreement with the British Columbia Securities Commission, a mutual fund dealer has agreed to pay $9,250 for failing to keep one of its employees registered to sell mutual fund securities.
In November 2005, Investors Group Financial Services Inc., a mutual fund dealer, registered Randall Dashwood as a branch manager, but failed to continue his registration as a salesperson.
From Nov. 30, 2005 to March 17, 2009, Dashwood concluded 7,947 transactions in mutual fund securities without being registered.
On March 18, 2009, the BCSC approved Dashwood's application for registration as a salesperson. The money Investors Group paid the BCSC includes $750 in respect of registration fees that would have been paid to the commission if Dashwood had been registered.
The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities within the province. You may view the settlement on our website www.bcsc.bc.ca by typing in the search box, Investors Group Financial Services Inc. or 2009 BCSECCOM 519. If you have questions, contact Ken Gracey, media relations, 604-899-6577.
Learn how to avoid investment fraud at the BCSC's investor education website: www.investright.org.
SOURCE British Columbia Securities Commission
For further information: For further information: Ken Gracey, (604) 899-6577 or (Canada) 1-800-373-6393