A former mutual fund rep who admitted to misappropriating money from clients has been fined and permanently banned by a regulatory hearing panel. Following a hearing on sanctions, a disciplinary panel of the Canadian Investment Regulatory Organization (CIRO) banned Christina (Lorna) Cole — a former rep with BMO Investments Inc. in Squamish, B.C. — for misappropriating approximately $24,800 from several clients, including a couple of recently deceased clients. The bank discovered the misconduct following an investigation that was launched after it found that she purchased a bank draft from a former client’s bank account and deposited the proceeds into her own account at the bank. In addition to the industry ban, the CIRO panel also fined Cole $50,000, and ordered her to pay $1,800 in disgorgement and $7,500 in costs.