Mr. James Michael Brennan This is Me

Education

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1. 1. .: News1130 : ALL NEWS RADIO :. - Assante adviser banned for life, fined $290K for pillaging mom's account

   www.news1130.com/news/business - [Cached]

   Published on: 1/4/2006   Last Visited: 1/4/2006

   The Investment Dealers Association of Canada said Tuesday that James Michael Brennan must also pay a $275,000 penalty plus $25,000 in costs.
   
   The self-regulatory organization said Brennan, a 40-year-old father of four, worked at the Ottawa branch of Assante Capital Management at the time of his offences between November 2000 and June 2003.
   
   A settlement agreement with the IDA states that he misappropriated $124,000 from three accounts in his mother's name for which he was the registered representative at Assante, a firm since taken over by CI Financial Inc. (TSX:CIX).
   
   The IDA said Brennan forged his mother's signature to execute the 35 separate withdrawals, and from February 2001 to March 2003 he sent her false statements with inflated account values.
   
   Brennan's lifetime ban comes on top of a five-year ban and a $5,000 fine plus $7,500 in costs imposed in May 2004 after the association found he had falsified credentials in applying for approval as a registered representative.
   
   Brennan submitted false forms showing he had passed the Investment Management Techniques Course and the Conduct and Practices Handbook course, as well as falsely stating he had a degree in social sciences from the University of Ottawa and telling clients he was a certified financial planner.
   
   His disciplinary hearing in 2004 - at which IDA staff sought a lifetime ban - was told there had been no allegations of negligence or impropriety regarding client accounts, and that Brennan suffered from "severe depression and psychological illness" and declared bankruptcy after his termination.
   
   Brennan, who started his career with securities dealer C. M. Oliver Financial Corp. before it was taken over by Assante, worked at Assante's Carling Ave. office in Ottawa until the IDA lifted his registration in May 2003.

2. 2. canadaeast.com - CP Business News

   www.canadaeast.com/apps/pbcs.d - [Cached]

   Published on: 1/4/2006   Last Visited: 1/4/2006

   The Investment Dealers Association of Canada said Tuesday that James Michael Brennan must also pay a $275,000 penalty plus $25,000 in costs.
   
   The self-regulatory organization said Brennan, a 40-year-old father of four, worked at the Ottawa branch of Assante Capital Management at the time of his offences between November 2000 and June 2003.
   
   A settlement agreement with the IDA states that he misappropriated $124,000 from three accounts in his mother's name for which he was the registered representative at Assante, a firm since taken over by CI Financial Inc. (TSX:CIX).
   
   The IDA said Brennan forged his mother's signature to execute the 35 separate withdrawals, and from February 2001 to March 2003 he sent her false statements with inflated account values.
   
   Brennan's lifetime ban comes on top of a five-year ban and a $5,000 fine plus $7,500 in costs imposed in May 2004 after the association found he had falsified credentials in applying for approval as a registered representative.
   
   Brennan submitted false forms showing he had passed the Investment Management Techniques Course and the Conduct and Practices Handbook course, as well as falsely stating he had a degree in social sciences from the University of Ottawa and telling clients he was a certified financial planner.
   
   His disciplinary hearing in 2004 - at which IDA staff sought a lifetime ban - was told there had been no allegations of negligence or impropriety regarding client accounts, and that Brennan suffered from "severe depression and psychological illness" and declared bankruptcy after his termination.
   
   Brennan, who started his career with securities dealer C. M. Oliver Financial Corp. before it was taken over by Assante, worked at Assante's Carling Ave. office in Ottawa until the IDA lifted his registration in May 2003.

3. 3. Ottawa Business Journal - Home Page

   www.ottawabusinessjournal.com/ - [Cached]

   Published on: 1/3/2006   Last Visited: 1/3/2006

   James Michael Brennan, who was a broker at the Ottawa branch of Assante Capital Management Ltd., reached a settlement agreement on Dec. 9 with the IDA's enforcement department. According to the arrangement, Mr. Brennan was found guilty of violating by-law 29.1 when he misappropriated $124,000 from three accounts held in his mother's name and forged her signature between November 2000 and June 2003.
   
   Between February 2001 and March 2003, he also sent his mother false statements for two of the three accounts and created at least six false statements for a fictitious account in order to disguise the fraud.
   
   For his misconduct, the agreement bans Mr. Brennan for life from the IDA, fined him $275,000 and he also must pay $15,000 in costs.