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by Mike Caswell

The Canadian Investment Regulatory Organization has begun proceedings against Tiffany Lee Felker, a former BMO Investments Inc. employee, over unauthorized transactions in a client's account in 2023. CIRO claims that Ms. Felker, who has since gone to work at a firm in the United States, electronically signed a client's signature to make changes to the account. Those changes included updating the profile to that of an aggressive investor from a conservative one, CIRO says.

The allegations are contained in a notice of hearing that CIRO released on Tuesday, Nov. 11. The notice identifies Ms. Felker as a BMO employee who worked from a branch in Edmonton. She was with the firm from March 9, 2018, until she was fired on May 18, 2023, following an internal investigation.

The events at issue, as set out by CIRO, go back to early March, 2023, when a client came into Ms. Felker's branch to discuss a personal line of credit. The client met with Ms. Felker, who had her sign documents related to the line of credit. While the client had investment accounts at the firm, she did not discuss those accounts with Ms. Felker, according to the notice.

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