A hearing panel of the Investment Dealers Association of Canada has fined a brokers with the Toronto office of CIBC Wood Gundy Securities Inc. $40,000 for forging a client’s signature.

On January 28, panel and accepted a settlement agreement negotiated between IDA staff and Geoffrey Klein. Klein admitted that he utilized a confidential Branch Access Code and signed a client’s signature without the client’s knowledge or consent.

In addition to the fine, the panel suspended Klein from approval by the IDA for a period of two years, and ordered that he be subject to strict supervision for a period of one year upon any subsequent registration approval with an IDA member firm.

A as a condition of re-approval, Klein must successfully re-write the Conduct and Practices Handbook exam. In addition, he is required to pay $1,000 in association costs.

For a complete summary of facts, please see IDA Bulletin 3392.