July 26, 2023 (Toronto, Ontario) – A settlement hearing in the matter of Roxanne Marie Carter (the “Respondent”) was held electronically by videoconference on June 27, 2023 in Toronto, Ontario before a three-member Hearing Panel of the Ontario District Hearing Committee of the Canadian Investment Regulatory Organization (“CIRO”).
The Hearing Panel accepted the settlement agreement dated May 12, 2023 (the “Settlement Agreement”), between Staff of CIRO and the Respondent as a consequence of which the following sanctions were imposed on the Respondent:
- a fine in the amount of $10,000 (“Fine”);
- $2,500 (fine) on or before July 31, 2023;
- $2,500 (fine) on or before August 31, 2023;
- $2,500 (fine) on or before September 29, 2023;
- $2,500 (fine) on or before October 31, 2023;
- costs in the amount of $5,000 (“Costs”);and
- shall in the future comply with Mutual Fund Dealer Rules 2.1.1.
In the Settlement Agreement, the Respondent admitted that:
- between December 2019 and February 2020, she altered, and used to process transactions, three account forms in respect of two clients by altering information on the account forms without having the client initial the alterations, contrary to MFDA Rule 2.1.1 (now Mutual Fund Dealer Rule 2.1.1); and
- between January 2016 and March 2019, she obtained and possessed, and used to process transactions, 35 pre-signed account forms in respect of three clients, contrary to MFDA Rule 2.1.1 (now Mutual Fund Dealer 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 London, Ontario area.
Canadian Investment Regulatory Organization is the national self-regulatory organization that oversees all investment dealers, mutual fund dealers and trading activity on Canada’s debt and equity marketplaces. CIRO 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.ciro.ca.