Christian Perrault of Hammond, Ontario is being sanctioned by the New Self-Regulatory Organization of Canada (New SRO) for altering forms over the course of several years without getting client initials and for obtaining two pre-signed account forms back in 2016.

All told, between 2015 and 2021 Perrault altered 30 account forms for 22 clients by altering client information without obtaining initials to indicate that the changes were authorized. Altered forms included know-your-client (KYC) update forms, transfer authorization forms, systemic instruction forms, new client forms and others. Altered information included risk tolerance, income information, fund details, account types, names, numbers, investing instructions and transfer institution information.

Two pre-signed forms, also discovered during a July 2021 file review, included a KYC update form and an order instruction form.

Registered in the securities industry since 2003, and registered with Investia Financial Services Inc. in both Ontario and Quebec since 2009, the firm placed Perrault on strict supervision and sent mail to all of his clients, along with three years of transactions, to determine whether or not there were any other inconsistencies. No clients responded to the firm’s letters with any concerns. Investia then issued a warning letter to Perrault in February 2022.

In a settlement agreement with the New SRO’s hearing panel Perrault admitted to altering the forms and keeping pre-signed forms and agreed to pay a fine in the amount of $22,000 plus costs in the amount of $2,500.