From the Regulators

Former Montreal broker misrepresented her credentials

By IE Staff |

The Investment Industry Regulatory Organization of Canada (IIROC) has permanently banned a Montreal broker for misrepresenting her credentials upon registration.

On May 7, an IIROC hearing panel accepted a settlement sgreement, with sanctions, between IIROC staff and Nicole Arvanitakis.

Ms. Arvanitakis admitted that she violated IIROC rules by misrepresenting her credentials upon registration.

Arvinatakis admitted that when she was employed at at the Montreal branch of HSBC Securities (Canada) Inc. and at CIBC World Markets Inc. in 2009-10, she intentionally led IIROC and the two firms to believe, notably by means of a forgery, that she met the specific education criteria to carry on the occupation of registered representative, knowing that this was false.

Arvanitakis agreed to the following penalty: a fine of $10,000; and a permanent ban. She also agreed to pay IIROC costs in the amount of $5,000.