Mutual fund disciplinary hearing

Michael Harrington also faces a disciplinary hearing with the Mutual Fund Dealers Association. (CBC)

The Nova Scotia Securities Commission is ordering a Dartmouth mutual fund dealer to stop trading.

The group says Michael A. Harrigan ​might have violated the province's securities laws by trading without being registered.

Harrington also faces a disciplinary hearing with the Mutual Fund Dealers Association, which accuses him of encouraging clients to borrow money to buy investments, without properly explaining the risks.

The dealers association says Harrigan misrepresented seven clients' net worth and risk tolerance when applying for loans in their investment accounts. Those investments lost money.

That hearing is scheduled for next spring in Halifax.

Tuesday's order from Nova Scotia regulators bans Harrigan from trading for 15 days because he is no longer a registered dealer.

Harrigan has worked in Alberta, New Brunswick and Nova Scotia.