The Mutual Fund Dealers Association of Canada penalized a Nova Scotia fund salesman for he failed to observe high standards of ethics and conduct.
An MFDA accepted a settlement agreement with Jade Truman Kaiser Mason at a hearing held Thursday in Halifax.
Mason was registered in the province of Nova Scotia as a mutual find salesperson with Sun Life Financial Investment Services (Canada) Inc. from October 12, 2006 until February 15, 2010, at which time he was terminated. He was also licensed to sell life insurance through Sun Life Financial Distributors (Canada) Inc.
In the settlement agreement, the Mason admitted that between October 12, 2006 and February 15, 2010 he falsified at least five client signatures on at least 10 client account documents; and falsely signed as a witness to three client signatures on four client account documents where he also falsified client signatures on the documents.
As a consequence of the settlement, Mason received a six-month prohibition from conducting securities related business, paid a $2,500 fine; and paid costs of $2,500.