Subject: LAW
Decision Notice - CIRO Hearing Panel issues Reasons for Decision in the matter of Mei-Hui Bobb
VANCOUVER, BC, Feb. 1, 2024 /CNW/ - Following a settlement hearing under the Mutual Fund Dealer Rules held on December 12, 2023, in Toronto, Ontario, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) found that Mei-Hui Bobb:
a) photocopied signature pages from account forms that had previously been signed by clients and re-used the signature pages to complete seven additional account forms in respect of five clients;
b) altered and used to process transactions 18 account forms in respect of 15 clients by altering information on the account forms without having the client initial the alterations; and
c) obtained, possessed and used to process transactions, 17 pre-signed account forms in respect of six clients.
The hearing panel issued its reasons for decision on January 19, 2024, which are available at:
In its reasons for decision, the hearing panel confirmed the sanctions imposed on Mei-Hui Bobb. In particular:
a) a suspension from conducting securities related business in any capacity while in the employ of or associated with any Dealer Member of CIRO registered as a mutual fund dealer for a period of two months commencing on the third business day after the acceptance of this Settlement Agreement; and
b) a fine of $28,000.
Mei-Hui Bobb is also required to pay costs in the amount of $5,000.
During the period described in the Settlement Agreement, Mei-Hui Bobb carried on business in the Surrey, British Columbia 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 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)
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