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HALIFAX, N.S. — Halifax wealth adviser Lee Harwood can pay a wonderful of $40,000 and prices of $5,000 for making “off-book investments for varied shoppers with out authorization.”
The self-regulatory arm that oversees funding sellers, mutual fund sellers and buying and selling exercise in Canada’s debt and fairness marketplaces stated in a launch that Harwood admitted to a violation that came about in July 2018.
An investigation into the misconduct started in Could of 2020, and a settlement was reached final week.
Harwood on the time was employed by the Halifax department of Scotia Capital Inc., and stays inside the trade in a registered capability on the Halifax department of BMO Nesbitt Burns Inc.
He made investments for varied shoppers with out the authorization of his supplier member. Along with the wonderful, Harwood additionally agreed within the settlement to shut supervision for six months and to rewrite a conduct and practices examination.