Commission Settles With Randall Elsie

The Nova Scotia Securities Commission has settled with Randall Elsie for failing to comply with prudent practices by inserting his client's initials on an account document.

Mr. Elsie is an investment adviser with BMO Nesbitt Burns in Sydney. His client suffered no financial loss as a result of his actions, and Mr. Elsie was subject to internal discipline at BMO Nesbitt Burns with a $2,000 fine and more stringent supervision.

Under the order and settlement agreement, Mr. Elsie will pay an administrative penalty of $2,500 and $1,000 in costs connected with the investigation and proceedings.

The Nova Scotia Securities Commission is the provincial government agency responsible for regulating trading in securities within the province. The order and settlement agreement can be viewed at www.gov.ns.ca/nssc/compliancenforce/enforproceedings.asp .