Staff of the Alberta Securities Commission have reached a settlement with a former Calgary mutual fund salesperson who misappropriated client funds for her own personal use.

In a settlement agreement released today, Line Pouliot agreed to cease trading in securities for 10 years, and pay a penalty of $5,000 plus $3,000 towards costs of the investigation.

Between 1998 and 2002, Pouliot personally misappropriated approximately $28,500 from one of her clients. She has since then compensated her client for the funds taken.