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by Mike Caswell

The Canadian Investment Regulatory Organization has permanently banned former BMO Investment Inc. employee Tiffany Felker over unauthorized transactions in a client's account from 2023. CIRO says that Ms. Felker improperly applied a client's signature to make changes to the account, with those changes including an update to the profile, changing it to that of an aggressive investor from a conservative one. Ms. Felker has since gone to work at a U.S. firm, which recently fired her after she failed to disclose her Canadian regulatory troubles.

The penalties for Ms. Felker, who worked from an Edmonton branch, are contained in a decision that CIRO released on Friday, Sept. 18. The regulator has permanently barred her from working in the industry (or, more officially, from "conducting securities-related business while in the employ of or associated with any CIRO Dealer Member"). She must also pay a $10,000 fine and $8,500 in CIRO's costs. Ms. Felker accepted the penalties as part of a negotiated settlement, in which she admitted to the violations.

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