An Investment Industry Regulatory Organization of Canada (IIROC) Hearing Panel has accepted a settlement agreement with Mohammad Movassaghi, who has been fined $27,000.

Movassaghi admitted to forging a client’s signature on various forms and failing to inform his employer of an outside business activity, said IIROC in an announcement July 20.

In addition to the fine, Movassaghi will be prohibited from applying for registration with IIROC for eight months, and upon re-approval, a twelve-month period of close supervision would be required. He is also required to pay $2500 in costs.

IIROC began the investigation into Movassaghi’s conduct in October 2016. The conduct occurred while he was a registered representative with the Vancouver, B.C. branch of Harbourfront Wealth Management Inc. Movassaghi is no longer a registrant with an IIROC-regulated firm.