A Canadian Investment Regulatory Organization (CIRO) hearing panel has entered into a settlement agreement with former dealing representative Martin David Hall. In the agreement, Hall admits to altering and using client account forms without first obtaining his client’s initials and admits to keeping pre-signed account forms.

All told, 10 altered account forms for 11 different clients and 15 pre-signed account forms for 15 different clients were uncovered during a full file review conducted in September 2021. The altered account forms were used between May 2015 and February 2021, while the pre-signed forms were obtained between June 2017 and August 2021. Altered account information included investment instructions, client net worth information and fund details. The pre-signed forms included know your client (KYC) update forms and new client application forms.

Clients did not express concerns 

When the Fredricton, New Brunswick-area dealing representative’s clients were contacted, none responded with any concerns. Registered since July 2002, Hall’s firm placed him on strict supervision in October 2021. In January 2022 he resigned and is no longer registered with any CIRO regulated firm.

Pursuant to the settlement agreement between Hall and the regulator, Hall agreed to pay a fine in the amount of $17,500 and costs in the amount of $2,500.