Latest news with #MutualFundDealerRules
Cision Canada
3 days ago
- Business
- Cision Canada
Decision Notice - CIRO Sanctions Hongjia Liu Français
VANCOUVER, BC, July 4, 2025 /CNW/ - On June 18, 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 Enforcement Staff and Hongjia Liu. Hongjia Liu admitted to engaging in discretionary trading in the futures accounts of certain clients and agreed to pay a fine of $75,000, disgorgement of $225,000 and a six-month suspension from acting in a registered capacity. Hongjia Liu will also pay costs of $15,000. The Settlement Agreement is available at: Liu, Hongjia – Settlement Agreement The hearing panel's reasons for decision will be made available at At the time of the allegations, Hongjia Liu conducted business in the Vancouver, British Columbia area as a Registered Representative with RBC Dominion Securities Inc. Hongjia Liu is currently not 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 Toll-free (Canada/US) 1-877-442-4322 SOURCE Canadian Investment Regulatory Organization (CIRO)
Cision Canada
4 days ago
- Business
- Cision Canada
Decision Notice - CIRO Hearing Panel issues its Reasons for Decision in the matter of Scott Nicolas Zurevinski Français
CALGARY, AB, July 3, 2025 /CNW/ - Following a settlement hearing held on May 15, 2025 pursuant to the Mutual Fund Dealer Rules, on June 23, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) issued its reasons for decision in the matter of Scott Nicolas Zurevinski. The hearing panel's reasons for decision are available at: Re Zurevinski 2025 CIRO 30 In their reasons for decision, the hearing panel found that Scott Zurevinski failed in his obligations regarding the proper execution of client account documents, by signing a client's signature on account forms and submitting them to the Dealer Member for processing. The hearing panel also confirmed a fine of $10,000 and costs of $2,500 imposed on Scott Zurevinski as part of the settlement. At all material times, Scott Zurevinski was registered in Alberta with Investors Group Financial Services Inc. Scott Zurevinski is currently registered in Alberta, British Columbia and Saskatchewan as a dealing representative with Acumen Capital Finance Partners Limited. * * * 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 Toll-free (Canada/US) 1-877-442-4322 SOURCE Canadian Investment Regulatory Organization (CIRO)
Cision Canada
5 days ago
- Business
- Cision Canada
Decision Notice - CIRO Sanctions Echelon Wealth Partners and Stephen Burns Français
TORONTO, July 2, 2025 /CNW/ - On June 25, 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, Echelon Wealth Partners Inc. (Echelon), now known as Ventum Financial Corp. (Ventum), and Stephen Burns. Echelon admitted to: (a) failing to use due diligence to learn and remain informed of the essential facts relative to the accounts and orders of four foreign broker-dealers, (b) failing to act as a gatekeeper in relation to the trading activity in U.S. Over-the-Counter (OTC) securities by the foreign broker-dealers, and (c) failing to establish, maintain, and enforce an adequate system of controls and supervision in relation to the U.S. OTC trading. Stephen Burns admitted to: (a) failing to use due diligence to learn and remain informed of the essential facts relative to the accounts and orders of four foreign broker-dealers, and (b) failing to act as a gatekeeper in relation to the trading activity in U.S. OTC securities by the foreign broker-dealers. Pursuant to the settlement agreement, Echelon/Ventum agreed to: (a) pay a fine of $500,000, (b) disgorge $1,700,000, (c) implement certain remedial measures, and (d) pay costs of $100,000. Stephen Burns agreed to: (a) pay a fine of $100,000, (b) be subject to a suspension of approval in any capacity for six (6) months, and (c) pay costs of $25,000. The Settlement Agreement is available at: The hearing panel's decision will be made available at The alleged violations occurred while Stephen Burns was a Registered Representative with Echelon. Stephen Burns is currently registered with Independent Trading Group Inc. Echelon has been a Dealer Member with CIRO and its predecessors since April 8, 2010 and amalgamated with Ventum in June 2024. 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
5 days ago
- Business
- Cision Canada
Decision Notice - CIRO Hearing Panel issues Reasons for Decision in the matter of Michael Rolland Smith Français
HALIFAX, NS, July 2, 2025 /CNW/ - Following a disciplinary hearing held on June 2, 2025, 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 his 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 decision dated June 23, 2025 is available at: Re Smith 2025 CIRO 31 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 sanctionss 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 Toll-free (Canada/US) 1-877-442-4322 SOURCE Canadian Investment Regulatory Organization (CIRO)
Cision Canada
5 days ago
- Business
- Cision Canada
Hearing Notice - CIRO to Hold a Settlement Hearing for Jeremy Earl Clark Français
CALGARY, AB, July 2, 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 Jeremy Earl Clark. 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: July 24, 2025 at 1:00 pm (MST) Location: Calgary, Alberta (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: Clark, Jeremy - Notice of Settlement Hearing At all material times, Jeremy Clark conducted business as a dealing representative with Investia Financial Services under the registered trade name, CH Financial Ltd. in the Calgary, Alberta area. Jeremy Clark is not currently registered in the securities industry in any capacity. 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. 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 SOURCE Canadian Investment Regulatory Organization (CIRO)
