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

Apr 1, 2021
Published on: LinkedIn
1 min read

Where is IIROC, Canada’s major self-regulatory organization, on disciplining financial advisors who falsify client consent agreements?

If the MFDA finds pre-signed documents a common practice, then IIROC probably also sees it as a regular occurrence. So, why so few disciplinary actions?

#faircanada #iiroc #mfda #put clientsfirst #investorrights

This afternoon, I ask, why is IIROC not discipling more of its members for document falsification? Two more decisions from the MFDA today, these against #JamesBennett who may have been with #Fundex and the other against #BhavinVyas of #Investors #IG. Both admitted document falsification. Surely this should be called fraud. In our experience this practice is as rampant with IIROC dealers as with MFDA, the difference is, the MFDA seems to realize that this undermines capital markets and harms investors. Where goes IIROC? Fiddling while Rome is burning? Seems so. The CSA should review IIROC's handling of this common breach by its members. #MFDA #IIROC #time4change #documentfalsification #CSA #OSC.