New SRO Hearing Panel accepts settlement agreement with Christian Perrault
February 8, 2023 (Toronto, Ontario) – A settlement hearing in the matter of Christian Perrault (the “Respondent”) was held electronically by videoconference on January 19, 2023 in Toronto, Ontario before a three-member Hearing Panel of the Ontario District Hearing Committee of the New Self-Regulatory Organization of Canada (“New SRO”).
The Hearing Panel accepted the settlement agreement dated November 22, 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 $22,000; and
- costs in the amount of $2,500.
In the Settlement Agreement, the Respondent admitted that:
- between January 19, 2015 and February 24, 2021, he altered and used to process transactions, 30 account forms in respect of 22 clients, by altering information on the account forms without having the client initial the alterations, contrary to MFDA Rule 2.1.1; and
- between August 3, 2016 and October 31, 2016, he obtained, possessed and used to process transactions, 2 pre-signed account forms in respect of 2 clients, contrary to MFDA Rule 2.1.1.
A copy of the Settlement Agreement is available on the MFDA website at www.mfda.ca. During the period described in the Settlement Agreement, the Respondent carried on business in the Hammond, Ontario 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 www.newselfregulatoryorganizationofcanada.ca.