Forgery costs advisor $18,000, five year ban

By Staff | August 29, 2011 | Last updated on August 29, 2011
1 min read

A hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) has accepted a settlement agreement, with sanctions, between IIROC staff and Jeremie Steven Clarke.

With this agreement Clarke admits that he forged client signatures. The agreement includes a penalty that requires him to:

  • Pay a $15,000 fine;
  • Serve a 5-year suspension from registration in any capacity;
  • Successfully complete the Conduct and Practices Handbook examination before being re-approved in any capacity,
  • Work under strict supervision for a 12-month period if he ever joins an IIROC-regulated firm; and
  • Pay IIROC $3,000 in costs.

Specifically, Clarke admits that he engaged in conduct unbecoming and detrimental to the public interest, contrary to IIROC Rule 29.1, when, on 29 occasions, he forged client signatures on various documents, including account authorization and acknowledgement forms, a stock non-solicitation letter and a mutual fund instruction form.

The violations occurred between August 2008 and January 2009, while Clarke was a registered representative with the Beaconsfield, Québec branch of Edward Jones. IIROC began its investigation into Clarke’s conduct in September 2009. Clarke has not been registered with an IIROC-regulated firm since June 2009. staff


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