On February 26, 2014, a hearing panel of the Investment Industry Regulatory Organization of Canada accepted a settlement agreement, with sanctions, reached between IIROC staff and Kathryn Faber.
Faber admitted she forged client signatures on various account documents. Specifically, she admitted to the following violation:
(a) In September 2010, Kathryn Faber forged client signatures on various account documents for three clients, thereby engaging in conduct unbecoming or detrimental to the public interest, contrary to IIROC Dealer Member Rule 29.1.
Pursuant to the settlement agreement, Faber agreed to the following penalties:
(a) A fine in the amount of $15,000;
(b) A suspension from registration with IIROC in any capacity for a period of two months; and
(c) She has to re-write the Conduct & Practices Handbook examination within six months upon returning to the industry.
Faber also agreed to pay costs in the amount of $1,000. Read the settlement agreement.
IIROC formally initiated the investigation into Faber’s conduct in September 2010. The violation occurred while she was a registered representative with a Hamilton branch of TD Waterhouse Canada Inc. Faber is no longer a registrant with an IIROC-regulated firm.