The order and fines were addressed and settled Dec. 2, 2019, all 12 clients that were affected were contacted, there was no complaints, no intent and no client accounts were affected.
Clerical error.
Insurance and investment advisor operating out of Vernon B.C. for past 19 years.
A Vernon mutual fund dealer will pay $11,000 in fines for altering account forms without client consent between 2014 and 2017.
The Mutual Fund Dealers Association of Canada (MFDA) found Randal Rae Wilson was altering and processing transactions for 12 clients without their written consent in the form of an initial between January 2014 and April 2017, contrary to MFDA rules.
Between June 2012 and August 2017, Wilson was found to have also processed seven pre-signed account forms for five clients.
An MFDA hearing panel issued the $11,000 fine, plus $2,500 in costs, at a July 22, 2019, hearing in Vancouver.
The reasons for decision were released on Jan. 3, 2020.
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