Ellen Roseman

Personal finance columnist at the Toronto Star and previously the Globe and Mail. My passion is consumer advocacy and making sense of money

Mar 14, 2021
Published on: LinkedIn
1 min read

Between November 2016 and October 2017, the Respondent processed 18 transactions in respect of 18 clients as redemptions and purchases, rather than as switches, to ensure that the transactions counted toward sales targets established by the Member for the Respondent, thereby engaging in conduct which gave rise to a conflict of interest which the Respondent failed to disclose to the Member, or address by the exercise of responsible business judgement influenced only by the best interests of the client; and
Between November 2016 and May 2017, the Respondent obtained, possessed, and used to process transactions, 10 pre-signed account forms in respect of 10 clients.

Sales incentives are conflicts of interest and incent bad hehaviour, just ask @TroyHale and @BMO. #MFDA #CSA #ASC #OSC #IIROC #FSRAO see:

MFDA Reasons for Decision