(November 18 – 15:00 ET) – The Ontario Securities Commission has approved a settlement agreement reached between Staff of the Commission and Jennifer Dewling , the former chief operating officer of Fortune Financial Corporation.
In the settlement agreement, Dewling admitted that she had acted contrary to the public interest. This conduct involved Dewling’s supervision of Paul Tindall, a former salesperson sponsored by Fortune, and her involvement in a capital deficiency issue that arose at Fortune. In addition, Dewling admitted that she approved the use of an account at Fortune which allowed sales representatives to sell securities that they were not licensed to sell.
As part of the settlement, Dewling agreed not to reapply for registration with the Commission for a period of four months from the date of the Order.
Dewling also agreed that for a further period of three months following the expiry of the four-month period she would not directly supervise any person in connection with that person’s activities for which registration is required. The settlement requires Dewling to successfully complete the Partners, Directors and Officers examination within four months of the date of the Commission’s Order.
Dewling was also prohibited from trading in securities for a period of four months from the date of the Order except that she is permitted to sell securities of which she is the beneficial owner as of the date of the Order.
-IE Staff
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