Subject: LAW
Hearing Notice - CIRO to Hold Disciplinary Hearing for Juan Carlos Saavedra
CALGARY, AB, Jan. 5, 2024 /CNW/ - An initial appearance has been scheduled before a hearing panel of the Canadian Investment Regulatory Organization (CIRO) under the Mutual Fund Dealer Rules to set a date for a disciplinary hearing in the matter of Juan Carlos Saavedra.
The initial appearance is open to the public unless the hearing panel orders otherwise. The date for the disciplinary hearing will be made available at www.mfda.ca.
Initial Appearance: February 12, 2024 at 10:00 a.m. (Mountain Time)
Location: Via videoconference
Members of the public who would like to obtain further particulars should fill out this questionnaire.
The hearing concerns allegations of the following violations of the Mutual Fund Dealer Rules:
Allegation #1: Between July 2021 and October 2021, the Respondent misappropriated or otherwise failed to account for monies that the Respondent obtained from a client, contrary to Mutual Fund Dealer Rule 2.1.1 (formerly MFDA Rule 2.1.1).1
Allegation #2: Commencing in December 2022, the Respondent failed to cooperate with an investigation by the MFDA into his conduct, contrary to Mutual Fund Dealer Rule 6.2.1 (formerly section 22.1 of MFDA By-Law No. 1).
The Notice of Hearing and Statement of Allegations which sets out the allegations is available at:
Saavedra, Juan Carlos ? Notice of Hearing
At all material times, the Respondent conducted business in the Calgary, Alberta area.
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.
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.
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 www.ciro.ca.
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1 Staff alleges that, at the time of the misconduct, the Respondent contravened MFDA Rule 2.1.1 and section 22.1 of MFDA By-Law No. 1, which are now incorporated into Mutual Fund Dealer Rules 2.1.1 and 6.2.1 referred to in this proceeding. |
SOURCE Canadian Investment Regulatory Organization (CIRO)
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