Latest news with #UniversalMarketIntegrityRules
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
11-06-2025
- Business
- Cision Canada
Decision Notice - CIRO Sanctions David Alan Robertson Français
VANCOUVER, BC, June 11, 2025 /CNW/ - On May 30, 2025, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) held a hearing pursuant to the Mutual Fund Dealer Rules and accepted a settlement agreement, with sanctions, between Enforcement Staff and David Alan Robertson. David Robertson admitted to borrowing monies from a client which gave rise to a conflict or potential conflict of interest which he failed to disclose to the Dealer Member or otherwise ensure was addressed by the exercise of responsible business judgment influenced only by the best interests of the client. Pursuant to the settlement agreement, David Robertson agreed to a fine of $10,000 and a prohibition from conducting securities related business in any capacity while in the employ of or associated with any Dealer Member of CIRO registered as a mutual fund dealer for a period of 12 months. David Robertson will also pay costs of $2,500. The Settlement Agreement is available at: Robertson, David – Settlement Agreement The hearing panel's decision will be made available at At all material times, David Robertson was registered as a dealing representative with Sun Life Financial Investment Services in the Burnaby, British Columbia area. David Robertson 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.
Yahoo
11-06-2025
- Business
- Yahoo
Decision Notice - CIRO Sanctions David Alan Robertson
VANCOUVER, BC, June 11, 2025 /CNW/ - On May 30, 2025, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) held a hearing pursuant to the Mutual Fund Dealer Rules and accepted a settlement agreement, with sanctions, between Enforcement Staff and David Alan Robertson. David Robertson admitted to borrowing monies from a client which gave rise to a conflict or potential conflict of interest which he failed to disclose to the Dealer Member or otherwise ensure was addressed by the exercise of responsible business judgment influenced only by the best interests of the client. Pursuant to the settlement agreement, David Robertson agreed to a fine of $10,000 and a prohibition from conducting securities related business in any capacity while in the employ of or associated with any Dealer Member of CIRO registered as a mutual fund dealer for a period of 12 months. David Robertson will also pay costs of $2,500. The Settlement Agreement is available at: Robertson, David – Settlement Agreement The hearing panel's decision will be made available at At all material times, David Robertson was registered as a dealing representative with Sun Life Financial Investment Services in the Burnaby, British Columbia area. David Robertson 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. All other Inquiries: Complaints & Inquiries Secure form Email to info@ Toll-free (Canada/US) 1-877-442-4322 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
Malaysian Reserve
10-06-2025
- Business
- Malaysian Reserve
CIRO Hearing Panel issues Reasons for Decision in the matter of Christopher Leslie Meehan
VANCOUVER, BC, June 10, 2025 /CNW/ – Following a settlement hearing held on April 28, 2025, pursuant to the Mutual Fund Dealer Rules, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) issued its reasons for decision on May 27, 2025. The hearing panel's reasons for decision are available at: Re Meehan 2025 CIRO 27 In their reasons for decision, the hearing panel found that Christopher Leslie Meehan engaged in securities related business that was not carried on for the account or through the facilities of the Dealer Member by directly or indirectly entering into agreements with Investors to trade crypto assets on their behalf. The hearing panel also confirmed a suspension from conducting securities related business in any capacity while in the employ of or associated with any Dealer Member of CIRO registered as a mutual fund dealer for a period of four months, a fine of $45,000 and costs of $5,000 imposed on Christopher Meehan as part of the Settlement Agreement. At all material times, Christopher Meehan conducted business in the Abbotsford, British Columbia area with Assante Financial Management Ltd. (Assante). Christopher Meehan continues to be registered as an Approved Person with Assante. 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. All other Inquiries: Complaints & InquiriesSecure form Email to info@ Toll-free (Canada/US) 1-877-442-4322
