IIROC fines rep $25,000

On October 29, 2012, a hearing panel of IIROC accepted a settlement agreement between IIROC staff and Trevor Ian Gunderson.

Gunderson admitted he borrowed money from clients without his member firm’s knowledge or consent and reimbursed a client for losses without his member firm’s knowledge or consent.

Specifically, Gunderson admitted to the following violations:

a) Between August 2009 and October 2010, Gunderson borrowed money from clients without his member firm’s knowledge or consent, thereby acting contrary to Dealer Member Rule 29.1;

b) In February of 2010, Gunderson reimbursed a client for losses without his member firm’s knowledge or consent, thereby acting contrary to Dealer Member Rule 29.1.

Pursuant to the Settlement Agreement, Gunderson agreed to the following penalty:

a) A $25,000 fine; b) A period of suspension from registration in any category with IIROC for one month; and c) Successful completion of the Conduct and Practices Handbook examination.

Gunderson also agreed to pay costs in the amount of $3,000.00.

Staff

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