The B.C. Securities Commission has banned a Vancouver mutual fund salesman from the securities market for at least 10 years after he admitted that he borrowed money from his clients.
Jose Monterossa was registered to sell mutual funds when he borrowed about $73,000 from 25 clients, placing himself in a position of conflict of interest.
In the settlement reached with the commission, Monterossa has agreed to repay his clients the remainder of the funds that he borrowed from them.
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