2016 - #4. CPA Yukon - Binding Opinion

The Member was the sole trustee of a trust (the “Trust”) established for the benefit of a client and the client’s family members. The Member:

1. Failed to deposit significant funds in the Trust in a timely manner;
2. Failed to open a Trust bank account in a timely manner; and
3. Failed to disclose to certain beneficiaries the existence of the Trust.

The Member admitted and the Investigation Committee determined that the Member contravened Rules of Professional Conduct:

1. 201.1 Maintenance of the Reputation of the Profession
2. 202.1 Integrity and Due Care
3. 212.1 Handling of Trust Funds and Other Property

The Discipline Committee recommended:

1. That the Member be given a reprimand;
2. That the Member pay a fine of $2,500;
3. That the Member pay expenses of $2,593 plus GST; and
4. That there be an anonymous publication on the publicly accessible section of CPA Yukon’s website of a notice concerning this Determination and Recommendation.