In 2023, the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association of Canada (MFDA) were combined to form a new entity: the Canadian Investment Regulatory Organization (CIRO).
A CIRO hearing panel approved a settlement imposing an $18,000 fine for Mutual Fund Dealer violations
CIRO's compliance report outlines regulatory changes, risk assessments, and integration efforts for 2025
Firm discovered the wrongdoing during a routine review
The sanctions follow findings of client fund misuse and misleading compliance reports
CIRO's latest report details efforts to protect investors, enhance standards, and strengthen market integrity
Details emerged as one person sued another over the matter
Canada's investment industry regulator has a spot on its advisory panel
Financial Services Regulatory Authority of Ontario (FSRA) unveils SRO as fifth credentialing body
Sungsoo (Steve) Lee will also have to pay a total $40,000 in fine and costs
Sanctions amount to more than $20,000
