A Canadian Investment Regulatory Organization (CIRO) hearing panel has issued its reasons for fining Jennifer Ajin $12,500 and assessing costs in the amount of $2,500 after Ajin admitted she cut and pasted client signatures on forms submitted for processing.

Registered since March 2017, the Stellarton, Nova Scotia-area dealing representative admitted that she cut and pasted the signatures for three clients, onto four new account forms, including redemption acknowledgment forms, a know your client form and one switch acknowledgement form.

The first form was discovered in late January 2020. In an interview with Royal Mutual Funds Inc. where she was registered for a little over a year, Ajin admitted to copying and pasting one signature, at which time she was suspended. A further review of her files found the remaining forms that Ajin also admitted to creating. By the end of February 2020 the firm terminated the dealing representative.

The regulator says the affected clients authorized all trades in question and there is no evidence of client loss or complaint.

“The panel considers the terms of the settlement agreement to be reasonable and orders that the settlement agreement be executed,” the regulator states in its reasons for decision.