Sasktatoon (Saskatchewan), June 22, 2023 – Following the acceptance of a settlement agreement in the matter of Blaine Patrick Arnold on June 6, 2023, a hearing panel of the Investment Dealer Division of the Canadian Investment Regulatory Organization (CIRO) issued their reasons for decision.
The hearing panel’s reasons for decision, dated June 12, 2023, are available at:
In their reasons for decision, the hearing panel confirmed the sanctions imposed on the Respondent. In particular, the Respondent agreed to:
- a six-month suspension from registration in a supervisory capacity;
- a fine in the amount of $35,000; and
- a requirement to successfully rewrite the Supervisors Course exam before acting in a supervisory capacity.
Mr. Arnold also agreed to pay costs in the amount of $5,000.
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All information about disciplinary proceedings relating to current and former member firms and individual registrants is available in the Enforcement section of the IIROC website for investment dealer disciplinary proceedings and the MFDA website for mutual fund dealer disciplinary proceedings.
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 sanctionss 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 carrying on the regulatory functions of the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association of Canada (MFDA), and 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.
Other Notices associated with this Enforcement Proceeding:
05/24/23New SRO to Hold a Settlement Hearing for Blaine Patrick ArnoldType: Enforcement NoticeSubtype: Hearing
06/15/23CIRO Sanctions Blaine Patrick ArnoldType: Enforcement NoticeSubtype: Decision
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