Enforcement

Hearing Notice - CIRO to Hold a Settlement Hearing for Sam Hsiao-Tse Yang

Retrieved on: 
Friday, March 8, 2024

The hearing is not open to the public but will become open if the panel accepts the agreement.

Key Points: 
  • The hearing is not open to the public but will become open if the panel accepts the agreement.
  • If the agreement is accepted, the panel's decision and the settlement agreement will be made available at www.ciro.ca .
  • Members of the public, who would like to obtain further particulars, should fill out this questionnaire .
  • The Notice of Application announcing the settlement hearing is available at:
    The alleged violations occurred while Sam Hsiao-Tse Yang was a Registered Representative with the Edmonton, Alberta branch of RBC Dominion Securities Inc. Sam Hsiao-Tse Yang is not currently working in a registered capacity with a CIRO-regulated firm.

ICO finds the Home Office’s pilot of GPS electronic monitoring of migrants breached UK data protection law

Retrieved on: 
Saturday, March 9, 2024

Home Office pilot scheme failed to assess privacy intrusion of GPS monitoring.

Key Points: 


Home Office pilot scheme failed to assess privacy intrusion of GPS monitoring.

Decision Notice - CIRO Sanctions Aziz Khamisa

Retrieved on: 
Thursday, March 7, 2024

TORONTO, March 7, 2024 /CNW/ - On February 21, 2024, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) under the Mutual Fund Dealer Rules accepted a settlement agreement, with sanctions, between Enforcement Staff and Aziz Fatehali Khamisa.

Key Points: 
  • TORONTO, March 7, 2024 /CNW/ - On February 21, 2024, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) under the Mutual Fund Dealer Rules accepted a settlement agreement, with sanctions, between Enforcement Staff and Aziz Fatehali Khamisa.
  • The Settlement Agreement is available at:
    At all material times, Aziz Khamisa conducted business in the Toronto, Ontario area.
  • 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.
  • 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.

CIRO Sanctions Sherry Susan Hanson

Retrieved on: 
Wednesday, February 28, 2024

TORONTO, Feb. 28, 2024 /CNW/ - On February 12, 2024, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) under the Mutual Fund Dealer Rules accepted a settlement agreement, with sanctions, between Enforcement Staff and Sherry Susan Hanson.

Key Points: 
  • TORONTO, Feb. 28, 2024 /CNW/ - On February 12, 2024, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) under the Mutual Fund Dealer Rules accepted a settlement agreement, with sanctions, between Enforcement Staff and Sherry Susan Hanson.
  • Sherry Susan Hanson admitted that she altered and used 52 account forms in respect of 33 clients to process transactions by altering information on the account forms without having the client initial the alterations.
  • Pursuant to the settlement agreement, Sherry Susan Hanson agreed to a fine of $26,000 and costs in the amount of $2,500.
  • The Settlement Agreement is available at:
    At all material times, Sherry Susan Hanson conducted business in the Ottawa, Ontario area.

Decision Notice - CIRO Sanctions Michel Bédard

Retrieved on: 
Tuesday, February 27, 2024

MONTRÉAL, Feb. 27, 2024 /CNW/ - On February 20, 2024, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) held a hearing under the Investment Dealer and Partially Consolidated Rules and accepted a settlement agreement, with sanctions, between Enforcement Staff and Michel Bédard.

Key Points: 
  • MONTRÉAL, Feb. 27, 2024 /CNW/ - On February 20, 2024, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) held a hearing under the Investment Dealer and Partially Consolidated Rules and accepted a settlement agreement, with sanctions, between Enforcement Staff and Michel Bédard.
  • Pursuant to the settlement agreement, Michel Bédard agreed to the following sanctions:
    a)  disgorgement of $226,492 representing the commissions he received;
    b)  a global fine of $150,000; and
    c)  a suspension of the registration with CIRO for a period of two months.
  • Michel Bédard also agreed to pay costs in the amount of $10,000.
  • The Settlement Agreement is available at:
    The violations occurred while Michel Bédard was a Registered Representative with Desjardins Securities Inc., where he continues to be employed in a registered capacity.

Decision Notice - CIRO Sanctions Lifan Song

Retrieved on: 
Friday, February 23, 2024

WINNIPEG, MB, Feb. 23, 2024 /CNW/ - On February 6, 2024, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) accepted a settlement agreement, with sanctions, between Enforcement Staff and Lifan Song.

Key Points: 
  • WINNIPEG, MB, Feb. 23, 2024 /CNW/ - On February 6, 2024, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) accepted a settlement agreement, with sanctions, between Enforcement Staff and Lifan Song.
  • Lifan Song admitted he failed to report to the Dealer Member complaints that he received from clients, and without the prior written consent of the Dealer Member, paid compensation to clients.
  • Lifan Song also provided a false or misleading response to the Dealer Member during its investigation into his conduct.
  • Lifan Song also agreed to pay costs in the amount of $5,000.

Hearing Notice - CIRO to Hold a Settlement Hearing for TD Investment Services Inc.

Retrieved on: 
Friday, February 16, 2024

TORONTO, Feb. 16, 2024 /CNW/ - A hearing has been scheduled before a hearing panel of the Canadian Investment Regulatory Organization (CIRO) pursuant to the Mutual Funds Dealer Rules to consider whether a hearing panel should accept a settlement agreement entered into between Enforcement Staff and TD Investment Services Inc.

Key Points: 
  • TORONTO, Feb. 16, 2024 /CNW/ - A hearing has been scheduled before a hearing panel of the Canadian Investment Regulatory Organization (CIRO) pursuant to the Mutual Funds Dealer Rules to consider whether a hearing panel should accept a settlement agreement entered into between Enforcement Staff and TD Investment Services Inc.
  • The hearing is not open to the public but will become open if the panel accepts the agreement.
  • If the agreement is accepted, the panel's decision and the settlement agreement will be made available at www.ciro.ca .
  • The Notice of Settlement Hearing announcing the settlement hearing is available at:
    TD Investment Services Inc. is a CIRO registered firm.

Hearing Notice - CIRO to Hold a Settlement Hearing for Aziz Khamisa

Retrieved on: 
Friday, February 16, 2024

TORONTO, Feb. 16, 2024 /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 whether a hearing panel should accept a settlement agreement entered into between Enforcement Staff and Aziz Khamisa.

Key Points: 
  • TORONTO, Feb. 16, 2024 /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 whether a hearing panel should accept a settlement agreement entered into between Enforcement Staff and Aziz Khamisa.
  • The hearing is not open to the public but will become open if the panel accepts the agreement.
  • If the agreement is accepted, the panel's decision and the settlement agreement will be made available at www.ciro.ca .
  • The Notice of Hearing is available at:
    At all material times, Aziz Khamisa conducted business in the Toronto, Ontario area.

SEC Charges Van Eck Associates for Failing to Disclose Influencer's Role in Connection with ETF Launch

Retrieved on: 
Friday, February 16, 2024

According to the SEC’s order, in March 2021, Van Eck Associates launched the VanEck Social Sentiment ETF (NYSE: BUZZ) to track an index based on “positive insights” from social media and other data.

Key Points: 
  • According to the SEC’s order, in March 2021, Van Eck Associates launched the VanEck Social Sentiment ETF (NYSE: BUZZ) to track an index based on “positive insights” from social media and other data.
  • The provider of that index informed Van Eck Associates that it planned to retain a well-known and controversial social media influencer to promote the index in connection with the launch of the ETF.
  • However, as the SEC’s order finds, Van Eck Associates failed to disclose the influencer’s planned involvement and the sliding scale fee structure to the ETF’s board in connection with its approval of the fund launch and of the management fee.
  • Without admitting or denying the SEC’s findings, Van Eck Associates agreed to a cease-and-desist order and a censure in addition to the monetary penalty.

Hearing Notice - CIRO to Hold a Settlement Hearing for Fortrade Canada Limited

Retrieved on: 
Friday, February 9, 2024

TORONTO, Feb. 9, 2024 /CNW/ - A hearing has been scheduled under the Investment Dealer and Partially Consolidated Rules before a hearing panel of the Canadian Investment Regulatory Organization (CIRO) to consider whether the panel should accept a settlement agreement entered into between Enforcement Staff and Fortrade Canada Limited.

Key Points: 
  • TORONTO, Feb. 9, 2024 /CNW/ - A hearing has been scheduled under the Investment Dealer and Partially Consolidated Rules before a hearing panel of the Canadian Investment Regulatory Organization (CIRO) to consider whether the panel should accept a settlement agreement entered into between Enforcement Staff and Fortrade Canada Limited.
  • The hearing is not open to the public, but will become open in the event that the hearing panel accepts the settlement agreement.
  • If the agreement is accepted, the panel's decision and the settlement agreement will be made available at www.ciro.ca .
  • The Notice of Application announcing the settlement hearing is available at:
    Fortrade Canada Limited is a CIRO-registered firm.