A former Vernon financial advisor has admitted to numerous violations.
Sherman Dahl has been handed a $35,000 fine for incidents ranging from 2011 to 2014.
According to the Investment Industry Regulatory Organization of Canada, Dahl, “admitted that he made unsuitable recommendations for two clients, failed to update the account information of two clients after their circumstances materially changed and placed discretionary trades on behalf of two clients.”
Beyond a $35,00 fine, Dahl has been banned from applying for registration in any capacity with IIROC for 12 months, and he must successfully complete the conduct and practices handbook course prior to being eligible for approval.
Dahl has also agreed to pay $5,000 in costs.
The IIROC began investigating Dahl in 2014, and the incidents occurred while he was with National Bank Financial in Vernon.
Dahl, who is no longer registered with an IIROC-regulated firm, could not be reached for comment.
