While still calling itself the New Self-Regulatory Organization of Canada (New SRO, now the Canadian Investment Regulatory Organization or CIRO), a hearing panel has announced its findings in a case where a Richmond Hill, Ontario dealing representative cut and pasted client signatures, altered forms without obtaining client initials to indicate they authorized the changes, and possessed pre-signed internal transfer forms.
All told, Antonio Luciano, registered in the securities industry since 1990, will be banned from conducting securities related business for a year with any firm regulated by CIRO. He will also pay $25,000 and $7,500 in costs.
Specifically, the representative is accused of obtaining and possessing three pre-signed forms for two different clients. He cut and pasted the signatures of four clients onto eight new account forms and sent the forms for processing and, in 2020, altered two account forms for two different clients without having the client initial the alterations.
The transgressions occurred while Luciano was a dealing representative with Qtrade Asset Management Inc. On January 18, 2021, Qtrade amalgamated with Credential Asset Management Inc. By January 21 that year the firm terminated Luciano’s registration. He is not currently registered in the securities industry in any capacity.
