CIRO to Hold Disciplinary Hearing for Susan Armitstead

ONOWAY, AB, Dec. 12, 2023 /CNW/ - A hearing has been scheduled before a hearing panel of the Alberta District Hearing Committee of the Canadian Investment Regulatory Organization (CIRO) under the Mutual Fund Dealer Rules in the matter of Susan Armitstead.

The hearing is open to the public unless the panel orders otherwise. The decision of the hearing panel will be made available at www.mfda.ca.

Hearing Date: April 29, 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 that Susan Armistead engaged in the following violations of the Mutual Fund Dealer Rules:

(a)     Between February 3, 2016 and May 10, 2018, the Respondent misappropriated or otherwise failed to account for client monies, contrary to Mutual Fund Dealer Rule 2.1.1 (formerly MFDA Rule 2.1.1); and

(b)     between February 4, 2016 and January 3, 2018, the Respondent:

        i.     recorded false or misleading notes in the Dealer Member's back office system;

       ii.     or made false or misleading statements to the Dealer Member during supervisory inquiries,

contrary to Mutual Fund Dealer Rule 2.1.1 (formerly MFDA Rule 2.1.1).[1].

The Notice of Hearing and Statement of Allegations, which set out the allegations, are available at:

Susan Armitstead ? Notice of Hearing and Statement of Allegations

During the period described in the Notice of Hearing, the Respondent conducted business in the Onoway, 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. 

Background information regarding the qualifications and disciplinary history, if any, of advisors currently employed by CIRO-regulated firms (Investment Dealer Division) is available free of charge through the AdvisorReport service. Information on how to make investment 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)