Decision Notice - CIRO Hearing Panel issues Reasons for Decision in the matter of Zhiping (Davis) Dai

CALGARY, AB, March 21, 2024 /CNW/ - Following a settlement hearing held pursuant to the Investment Dealer and Partially Consolidated Rules on August 17 and September 28, 2023, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) found that Zhiping (Davis) Dai engaged in personal financial dealings with two clients.

The hearing panel issued its reasons for decision on March 3, 2024, which are available at:

Re Dai, 2024 CIRO 33

In its reasons for decision, the hearing panel confirmed a fine of $21,000 and costs of $3,000 imposed on Zhiping (Davis) Dai.

This case was resolved by an Early Resolution Offer. Enforcement Staff offered a 30% reduction of the sanctions CIRO otherwise would have sought based on Zhiping (Davis) Dai's cooperation.

The contraventions occurred while Zhiping Dai was a Registered Representative with the Calgary branch of Edward Jones, a CIRO-regulated firm. He continues to be employed within the industry in a registered capacity, currently with Leede Jones Gable Inc.

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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 www.ciro.ca.

SOURCE Canadian Investment Regulatory Organization (CIRO)