CIRO issues Notice of Settlement Hearing in respect of Robert Friesen

TORONTO, Sept. 28, 2023 /CNW/ - Canadian Investment Regulatory Organization ("CIRO") announced that it has issued a Notice of Settlement Hearing dated September 11, 2023, regarding the presentation, review and consideration of a proposed settlement agreement by a Hearing Panel of the CIRO'S Nova Scotia District Hearing Committee.

The settlement agreement will be between Staff of CIRO and Robert Bernard Friesen (the "Respondent") and involves matters for which the Respondent may be disciplined by a Hearing Panel pursuant to Rules 7.3 and 7.4.1.1 of the Mutual Fund Dealer Rules.

The proposed settlement agreement concerns allegations that between January 11, 2017 and February 21, 2021, the Respondent, acting in the capacity as branch manager, reviewed and approved the use of 29 account forms where information had been altered on the account forms without having the client initial the alterations, contrary to Mutual Fund Dealer Rules 2.5.5(f)(i) and 2.1.1 (formerly MFDA Rules 2.5.5(f)(i) and 2.1.1).

As a result of a settlement agreement entered into between Staff of CIRO and the Respondent, a settlement hearing will take place electronically by videoconference before a Hearing Panel of CIRO's Nova Scotia District Hearing Committee on November 22, 2023, commencing at 11:00 a.m. (Atlantic), or as soon thereafter as the matter can be held. Members of the public who would like to obtain further particulars should contact [email protected].

CIRO settlement hearings are typically held in the absence of the public pursuant to Mutual Fund Dealer Rule 7.3.5 and Rule 15.2(2) of the MFDA Rules of Procedure. If the Hearing Panel accepts the settlement agreement, then the proceeding will become open to the public and a copy of the decision of the Hearing Panel and the settlement agreement will be made available at www.mfda.ca.

A copy of the Notice of Settlement Hearing is available on the MFDA website at www.mfda.ca. During the period described in the Notice of Settlement Hearing, the Respondent conducted business in the Halifax, Nova Scotia area.

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)