The Investment Industry Regulatory Organization of Canada has fined a former Canaccord Financial Ltd. registrant $40,000 for submitting misleading credentials, forging documents and obstructing IIROC’s investigation into his conduct.

Dirk Lohrisch, who was registered at Canaccord’s Vancouver head office from 2001 to 2008, has also been permanently banned from approval in any capacity, following a penalty hearing held in May. He has also been ordered to pay costs of $27,000.

At a disciplinary hearing held in April, an IIROC hearing panel found that between 2003 and 2009, Lohrisch acted in a manner that was unbecoming and detrimental to the public interest.

In 2003, the hearing panel found that Lohrisch submitted a Change of Registration Information Form to the IDA’s Registration Department which was misleading regarding his credentials. Specifically, he indicated that he had successfully completed the Professional Financial Planning Course that was required for his approval as a registered rep. In reality, Lohrisch did not pass either of the two PFPC exams.

Lohrisch further breached IIROC’s rules in connection with this count of misconduct by forging a Canadian Securities Institute transcript to lead the regulator to believe that he had passed the PFPC course.

Lastly, the hearing panel found that Lohrisch attempted to frustrate and/or obstruct IIROC’s investigation into his conduct by not responding truthfully or completely.

Lohrisch is no longer a registrant in any capacity with an IIROC-regulated firm. He was terminated by Canaccord for reasons unrelated to the IIROC allegations in December 2008.

IE