Ex-securities rep turned mortgage salesperson charged by Manitoba court

By Staff | January 23, 2020 | Last updated on January 23, 2020
1 min read
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A former securities rep, who later became a mortgage broker, is now facing numerous charges in connection with alleged financial abuse of an elderly Winnipeg woman, the Manitoba Securities Commission (MSC) reports.

The MSC said that Bret Allan Dobbin, 57, has been charged with 18 counts in violation of provincial securities law, including allegations that he traded without registration.

“These charges allege that Dobbin was involved in 18 separate transactions totaling $534,237 between April 2016 and June 2017 in violation of this legislation. The victim is a Winnipeg widow in her 80s,” the MSC said.

He also faces 36 charges in connection to alleged violations of the legislation governing mortgage brokers, the MSC noted.

The allegations have not been proven.

The regulator reported that Dobbin was banned from the industry for 10 years under a settlement with the MSC back in 2006.

In that previous settlement, he admitted to acting contrary to the public interest by trading beyond his registration and failing to avoid personal financial dealings with a client, among other things.

The MSC noted in its Thursday release that Dobbin was “terminated by Edward Jones Investments in 2002 in relation to theft from an elderly widowed client,” the situation that led to the 2006 settlement.

Dobbin is no longer registered in the securities industry. He has been registered as a mortgage salesperson and has worked for a mortgage broker in Winnipeg since 2011, it noted, although that registration is also now suspended.

Advisor.ca staff


The staff of Advisor.ca have been covering news for financial advisors since 1998.