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Cision Canada
a day ago
- Business
- Cision Canada
Decision Notice - CIRO Hearing Panel finds Ken Kin Kit Lui and Devina Master liable and imposes sanctions Français
TORONTO, /CNW/ - Following a disciplinary hearing held on June 11, 2025, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) under the Mutual Fund Dealer Rules found that: a) Ken Lui engaged in outside activities that were not disclosed to or approved by the Dealer Member, b) Ken Lui and Devina Master engaged in personal financial dealings with clients giving rise to conflicts or potential conflicts of interest that they failed to disclose to the Dealer Member or otherwise address by the exercise of responsible business judgment influenced only by the best interests of the clients, and c) Ken Lui and Devina Master failed to cooperate with an investigation by CIRO Staff into their conduct. The hearing panel imposed the following sanctions on Ken Lui: a) a permanent prohibition from conducting securities related business while in the employ of or associated with any Dealer Member of CIRO, and b) a fine of $770,947.17. Ken Lui is also required to pay costs in the amount of $25,000. The hearing panel imposed the following sanctions on Devina Master: a) a permanent prohibition from conducting securities related business while in the employ of or associated with any Dealer Member of CIRO, and b) a fine of $150,000. Devina Master is also required to pay costs in the amount of $15,000. The reasons for decision will be posted on when available. The Notice of Hearing and Statement of Allegations, which set out the allegations, are available at: Lui, Ken and Master, Devina – Notice of Hearing and Statement of Allegations The violations occurred while Ken Lui and Devina Master were Registered Representatives with the Toronto, Ontario branch of CIBC Securities Inc. Ken Lui and Devina Master are not currently registered in the securities industry in any capacity. 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 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.
Cision Canada
2 days ago
- Business
- Cision Canada
Decision Notice - CIRO Hearing Panel sanctions Michael Rolland Smith Français
HALIFAX, NS, June 19, 2025 /CNW/ - Following a disciplinary hearing held on June 2, 2025, at which an Agreed Statement of Facts was provided, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) under the Mutual Fund Dealer Rules found that Michael Rolland Smith: (a) misappropriated monies from a client or otherwise obtained monies from a client, some or all of which were not repaid, (b) changed the designated beneficiary for a client's mutual fund accounts to family members, and (c) failed to cooperate with an investigation into his conduct by CIRO Staff. The hearing panel imposed the following sanctions on Michael Smith: (a) a global fine of $1,509,879.41 (b) a permanent prohibition from conducting securities related business in any capacity while in the employ of or associated with any Dealer Member of CIRO. Michael Smith will also pay costs of $20,000. The hearing panel's reasons for decision will be made available at The Agreed Statement of Facts is available at: Smith, Michael – Agreed Statement of Facts At all material times, Michael Smith conducted business with Investors Group Financial Services Inc. in the Amherst, Nova Scotia area. Michael Smith is not currently registered in the securities industry in any capacity. 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 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)
Cision Canada
13-06-2025
- Business
- Cision Canada
Hearing Notice - CIRO to Hold a Settlement Hearing for Echelon Wealth Partners and Stephen Burns Français
TORONTO, June 13, 2025 /CNW/ - A hearing has been scheduled before a hearing panel of the Canadian Investment Regulatory Organization (CIRO) pursuant to the Investment Dealer and Partially Consolidated Rules to consider a settlement agreement between CIRO Enforcement Staff and Echelon Wealth Partners (Echelon) and Stephen Burns. The hearing will become open to the public if the panel accepts the settlement agreement. If the settlement agreement is accepted, the panel's decision and the settlement agreement will be made available at Settlement Hearing Date: June 25, 2025 at 10:00 a.m. (Eastern Time) Location: Toronto, Ontario (by videoconference) Members of the public, who would like to obtain further particulars, should fill out this form. The Notice of Motion announcing the settlement hearing is available at: Echelon Wealth Partners Inc. and Stephen Burns - Notice of Motion The alleged violations occurred while Stephen Burns was a Registered Representative with Echelon, where he is still employed in a registered capacity. Echelon has been a Dealer Member with CIRO and its predecessor since April 8, 2010. 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 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.
Cision Canada
13-06-2025
- Business
- Cision Canada
Hearing Notice - CIRO to Hold a Settlement Hearing for Domenic James Cappola Français
TORONTO, June 13, 2025 /CNW/ - A hearing has been scheduled before a hearing panel of the Canadian Investment Regulatory Organization (CIRO) pursuant to the Mutual Fund Dealer Rules to consider a settlement agreement between CIRO Enforcement Staff and Domenic James Cappola. The hearing will become open to the public if the panel accepts the settlement agreement. If the settlement agreement is accepted, the panel's decision and the settlement agreement will be made available at Settlement Hearing Date: August 20, 2025 at 10:00 am (Eastern Time) Location: Toronto, Ontario (by videoconference) Members of the public who would like to obtain further particulars should fill out this form. The Notice of Settlement Hearing announcing the settlement hearing is available at: Cappola, Domenic - Notice of Settlement Hearing At all material times, Domenic Cappola conducted business in the Richmond Hill, Ontario area as a dealing representative with Investors Group Financial Services Inc. Domenic Cappola is still currently registered as a dealing representative with Investors Group Financial Services Inc. 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 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)
Yahoo
13-06-2025
- Business
- Yahoo
Hearing Notice - CIRO to Hold a Settlement Hearing for Domenic James Cappola
TORONTO, June 13, 2025 /CNW/ - A hearing has been scheduled before a hearing panel of the Canadian Investment Regulatory Organization (CIRO) pursuant to the Mutual Fund Dealer Rules to consider a settlement agreement between CIRO Enforcement Staff and Domenic James Cappola. The hearing will become open to the public if the panel accepts the settlement agreement. If the settlement agreement is accepted, the panel's decision and the settlement agreement will be made available at Settlement Hearing Date: August 20, 2025 at 10:00 am (Eastern Time) Location: Toronto, Ontario (by videoconference) Members of the public who would like to obtain further particulars should fill out this form. The Notice of Settlement Hearing announcing the settlement hearing is available at: Cappola, Domenic - Notice of Settlement Hearing At all material times, Domenic Cappola conducted business in the Richmond Hill, Ontario area as a dealing representative with Investors Group Financial Services Inc. Domenic Cappola is still currently registered as a dealing representative with Investors Group Financial Services Inc. 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 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) View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
