Decision Notice - CIRO Sanctions TradeZero Canada Securities ULC Français
TORONTO, May 27, 2025 /CNW/ - On May 14, 2025, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) held a hearing pursuant to the Investment Dealer and Partially Consolidated Rules and accepted a settlement agreement, with sanctions, between CIRO Enforcement Staff and TradeZero Canada Securities ULC (TradeZero).
TradeZero failed to conduct adequate daily and monthly supervision of trading activity and adequate review of client communications to ensure compliance with CIRO requirements. TradeZero also failed to provide relationship disclosure information to clients at the time of account opening.
Pursuant to the settlement agreement, TradeZero agreed to pay a fine of $175,000 and costs of $15,000.
The Settlement Agreement is available at:
TradeZero – Settlement Agreement
The hearing panel's decision will be made available at www.ciro.ca.
TradeZero is a CIRO-regulated firm, offering Order Execution Only (OEO) trading in US equities and options to retail clients in Canada.
The Canadian Investment Regulatory Organization (CIRO) is the national self-regulatory organization that oversees all investment dealers, mutual fund dealers and trading activity on Canada's debt and equity marketplaces. CIRO is committed to the protection of investors, providing efficient and consistent regulation, and building Canadians' trust in financial regulation and the people managing their investments. For more information, visit www.ciro.ca.
All information about disciplinary proceedings relating to current and former member firms and individual registrants under the Investment Dealer and Partially Consolidated Rules (for investment dealers), the Mutual Fund Dealer Rules (for mutual fund dealers) and the Universal Market Integrity Rules (UMIR) is available on CIRO's website.
Background information regarding the qualifications and disciplinary history, if any, of advisors currently employed by CIRO-regulated investment firms is available free of charge through the AdvisorReport service. Information on how to make dealer, advisor or marketplace-related complaints is available by calling 1-877-442-4322.
CIRO investigates possible misconduct by its member firms and individual registrants. It can bring disciplinary proceedings which may result in sanctions including fines, suspensions, permanent bars, expulsion from membership, or termination of rights and privileges for individuals and firms.
SOURCE Canadian Investment Regulatory Organization (CIRO)
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