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Charles Toth
Vice President, Enforcement

New SRO Hearing Panel accepts settlement agreement with Gilbert VanAmburg

March 6, 2023 (Toronto, Ontario) – A settlement hearing in the matter of Gilbert VanAmburg (the “Respondent”) was held electronically by videoconference on February 9, 2023 in Halifax, Nova Scotia before a three-member Hearing Panel of the Nova Scotia District Hearing Committee of the New Self-Regulatory Organization of Canada (“New SRO”).

The Hearing Panel accepted the settlement agreement dated December 12, 2022 (the “Settlement Agreement”), between Staff of New SRO and the Respondent as a consequence of which the following sanctions were imposed on the Respondent:

  • a fine in the amount of $17,500;
  • costs in the amount of $2,500; and
  • shall in the future comply with Mutual Fund Dealer Rule 2.1.1.

In the Settlement Agreement, the Respondent admitted that:

  1. between January 23, 2017 and December 14, 2020, he obtained, possessed and used to process transactions, 7 pre-signed account forms in respect of 9 clients; and
  2. between November 6, 2016 and January 6, 2021, he altered and used to process transactions, 16 account forms in respect of 14 clients, by altering information on the account forms without having the client initial the alterations.

A copy of the Settlement Agreement is available on the MFDA website at During the period described in the Settlement Agreement, the Respondent carried on business in the Halifax, Nova Scotia area.

New Self-Regulatory Organization of Canada is the national self-regulatory organization that oversees all investment dealers, mutual fund dealers and trading activity on Canada’s debt and equity marketplaces. New SRO is carrying on the regulatory functions of the Investment Industry Regulatory Organization of Canada and the Mutual Fund Dealers Association of Canada, and is committed to the protection of investors, providing efficient and consistent regulation, and building Canadians’ trust in financial regulation and the people managing their investments. For more information, visit


DM 901927