News Articles

Rep Fined $40,000 for Forged Letter

Originally published on Advisor.ca

On March 9, 2012, a hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) accepted a settlement agreement between the IIROC staff and the Paul James Vorstadt.

Vorstadt admitted that he forged a letter, which misrepresented the features of an investment product he had recommended to a client.

Specifically, Vorstadt admitted to the following violation:

In or around March 2009, Vorstadt fabricated a letter purportedly from Manulife Financial Corp. in which he misrepresented the guarantee features of an investment product he had recommended to a client. He then printed the letter on Manulife letterhead and forged the signature of a Manulife employee, contrary to Dealer Member Rule 29.1.

Full Article

Originally published on Advisor.ca

Leave a Reply