CIRO Hearing Panel issues Reasons for Decision in the matter of Zinan Liu

VANCOUVER, BC, Dec. 15, 2023 /CNW/ - A disciplinary hearing was held on January 23, 2023, in Vancouver, British Columbia before a hearing panel of the Canadian Investment Regulatory Organization's Pacific District Hearing Committee.  Prior to the hearing the parties filed an agreed statement of facts, dated December 8, 2022.  The hearing panel under the Mutual Fund Dealer Rules found that Zinan Liu engaged in personal financial dealings with clients, engaged in unapproved outside activities, and made representations.

The hearing panel's Reasons for Decision, dated December 8, 2023 are available at:

Re Liu, Zinan 2023 CIRO 36

In its Reasons for Decision, the hearing panel confirmed the sanctions imposed on Zinan Liu. In particular:

a)  a prohibition from conducting securities related business in any capacity while in the employ of, or in association with, any New SRO Member for a period of two years, commencing January 23, 2023; and

b)  a fine of $15,000;

The respondent is also required to pay costs in the amount of $5,000.

During the period described in the Agreed Statement of Facts, Zinan Liu carried on business with CIBC Securities Inc. in the Burnaby, British Columbia area. Zinan Liu is no longer a registrant with a CIRO-regulated firm.

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)