A former Ontario mutual fund rep has agreed to submit to a business audit and to upgrade her proficiency, along with other conditions, in order to win back her registration, the Ontario Securities Commission (OSC) has announced.
The (OSC) approved a settlement in which Anna Joanna Knight agreed to a number of conditions in order to regain registration.
According to the agreement, Knight will submit to an audit of her financial planning and insurance businesses and upgrade her proficiency before seeking registration as a mutual fund rep.
She also agreed to certain conditions on her registration, should the OSC grant approval.
The agreement stems from a registration application, which raised concerns with OSC staff.
OSC staff uncovered alleged misconduct, including usage of a pre-signed trading form and improperly selling exempt products.
Rather than pursue a hearing to resolve the issue, OSC staff and Knight agreed to make a joint recommendation regarding the proposed registration application, setting out the conditions for reactivating her registration.
“The terms and conditions proposed by the settlement agreement provide a means to detect or prevent future misconduct of a similar nature by Knight,” the settlement agreement states.
Knight has acknowledged and regrets her misconduct, has suffered harm as a result, and co-operated with regulators in reviewing her application, the agreement adds.