A former mutual fund salesperson in Thunder Bay has been given a heavy fine.
The Mutual Fund Dealers Association says Nathan Eric Breukelman was found to have misappropriated almost $29,000 from a client thereby failing to observe the high standards of ethics and conduct that are expected of him.
The dealings are said to have taken place between November of 2014 and April of 2015.
In addition, the Association says Breukelman failed to cooperate with an investigation by association staff into his conduct.
As a result Breukelman has been fined $125,000 along with $7,500 in costs and is banned from selling mutual funds anywhere the association has jurisdiction.
