A hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) has sanctioned a former rep with TD Waterhouse Canada Inc. for forging client signatures.

In the settlement agreement, Todd Robert Dean agreed to pay a $30,000 fine and $10,000 in costs for engaging in conduct unbecoming and detrimental to the public interest.

Dean admitted to forging client signatures and then misleading both his firm and regulatory staff when a client complained about the forgeries.

The violations occurred in 2005 and in February 2008, when Dean was a registered representative with TD Waterhouse. On May 12, 2008, following an internal investigation, TD dismissed Dean for forging client signatures. IIROC began its investigation into Dean’s conduct on July 10, 2008.

Dean was subsequently a registered representative at another IIROC-regulated firm, Mackie Research Capital Corporation, from May 2008 until July 2009. He has not been registered with IIROC since that time.

The settlement also precludes Dean from reapplying for registration with IIROC until July 31, 2010.

As a condition of re-approval in any capacity, he must successfully complete the Conduct and Practices Handbook examination and be subject to a one-year period of strict supervision.

IE