(Toronto, Ontario) – June 1, 2023 – A protective order hearing has been scheduled before a hearing panel of the Investment Dealer Division of the Canadian Investment Regulatory Organization (CIRO) in the matter of Gravitas Securities Inc. (Gravitas).
CIRO Staff will seek an order pursuant to sections 8212 and 8426 of the Investment Dealer and Partially Consolidated Rules. In particular, CIRO Staff will seek an order for the suspension of Gravitas’ membership as a result of: (1) Gravitas becoming capital deficient; and (2) Gravitas advising of its intention to wind up its business as an investment dealer.
Members of the public who would like to attend the hearing should contact CIRO’s National Hearing Officer at [email protected] to obtain the details. The decision of the hearing panel will be made available at www.iiroc.ca.
Hearing Date: The hearing will be held by way of videoconference June 8, 2023 at 10:00 a.m. EST
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All information about disciplinary proceedings relating to current and former member firms is available in the Enforcement section of the IIROC 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.
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:
06/12/23CIRO Suspends Gravitas Securities Inc.Type: Enforcement NoticeSubtype: Hearing
06/22/23CIRO Hearing Panel issues Reasons for Decision in the matter of Gravitas Securities Inc.Type: Enforcement NoticeSubtype: Decision