CIRO cited the creation of the letter with out verification as a violation of its Funding Vendor Guidelines.
The panel accepted a Settlement Settlement outlining sanctions.
Nafarrate obtained a $14,000 high-quality, a nine-month prohibition from conducting securities-related enterprise, and a requirement to finish the Conduct and Practices Handbook Course or its equal.
He should additionally pay $3,000 in prices.
Nafarrate’s employment at RBC Dominion Securities was terminated in October 2023 following an inside investigation.