A hearing panel of the Investment Industry Regulatory Organization of Canada on Tuesday imposed penalties on Dustin Rene Lamontagne for forging client signatures.

The violations occurred when he was a registered representative with the Edmonton branch of CIBC Investor Services Inc.

At a disciplinary hearing held on Dec. 11, 2008, in Calgary, the panel found that in August 2006 Lamontagne forged 13 client signatures to his client investment plans and financial advice disclosure documents.

The panel also found that on Oct. 23, 2006, Lamontagne misled CIBC by providing false information in respect of client signature irregularities, all involving his client investment plans and financial advice disclosure documents.

In imposing penalties, the panel suspended Lamontagne for six months from the date of the Hearing (which makes the end of the suspension until June 10) and ordered him to pay a fine $35,000. The panel also ordered Lamontagne to pay costs in the amount of $15,000.

The Investment Dealers Association of Canada formally initiated the investigation into Lamontagne’s conduct on June 4, 2008.

Lamontagne is no longer a Registrant with the Investment Industry Regulatory Organization of Canada (IIROC).

The panel issued its decision and reasons on January 27.

IE