May 13, 2022 (Toronto, Ontario) – A hearing has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) to consider whether the panel should accept a Settlement Agreement entered into between IIROC staff and Bardya Ziaian.
The Settlement Agreement relates to a Notice of Hearing that was issued in this matter on August 1, 2019 and would settle proposed allegations that Mr. Ziaian failed to make bona fide offerings of new issues to public investors in circumstances where he ought to have known that the expressions of interest were not bona fide.
The hearing is not open to the public, but will become open in the event that the panel accepts the agreement. If the agreement is accepted, the Panel’s decision and the Settlement Agreement will be made available at www.iiroc.ca.
Hearing Date: The hearing will be held by way of videoconference on May 20, 2022 at 10:00 a.m. (ET)
IIROC formally initiated the investigation into Mr. Ziaian’s conduct in May 2015. The alleged violations occurred while he was a Registered Representative at BBS Securities Inc., an IIROC-regulated firm. Mr. Ziaian is no longer a registrant with an IIROC-regulated firm.
The Notice of Motion announcing the settlement hearing is available at:
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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 IIROC-regulated firms is available free of charge through the IIROC AdvisorReport service. Information on how to make investment dealer, advisor or marketplace-related complaints is available by calling 1 877 442-4322.
IIROC investigates possible misconduct by its member firms and/or individual registrants. It can bring disciplinary proceedings which may result in penalties including fines, suspensions, permanent bars, expulsion from membership, or termination of rights and privileges for individuals and firms.
IIROC is the pan-Canadian self-regulatory organization that oversees all investment dealers and their trading activity in Canada's debt and equity markets. IIROC sets high quality regulatory and investment industry standards, protects investors and strengthens market integrity while supporting healthy Canadian capital markets. IIROC carries out its regulatory responsibilities through setting and enforcing rules regarding the proficiency, business and financial conduct of 174 Canadian investment dealer firms of varying sizes and business models, and their more than 31,000 registered employees. IIROC also sets and enforces market integrity rules regarding trading activity on Canadian debt and equity marketplaces. For more information, visit www.iiroc.ca.
Other Notices associated with this Enforcement Proceeding:
08/14/19IIROC Begins Disciplinary Action Against Former BBS Securities Inc. UDP Bardya ZiaianType: Enforcement NoticeSubtype: Hearing
01/15/20IIROC Holds Disciplinary Hearing Regarding Former BBS Securities Inc. UDP Bardya ZiaianType: Enforcement NoticeSubtype: Hearing
04/07/20IN THE MATTER OF Bardya Ziaian – AdjournmentType: Enforcement NoticeSubtype: Hearing
09/17/20IIROC Holds Disciplinary Hearing Regarding Former BBS Securities Inc. UDP Bardya ZiaianType: Enforcement NoticeSubtype: Hearing
10/08/20IIROC Hearing Panel Issues Motion Decision in the Matter of Former BBS Securities Inc. UDP Bardya ZiaianType: Enforcement NoticeSubtype: Decision
08/25/21IIROC Holds Disciplinary Hearing Regarding Former BBS Securities Inc. UDP Bardya ZiaianType: Enforcement NoticeSubtype: Hearing
01/14/22IN THE MATTER OF Bardya Ziaian – AdjournmentType: Enforcement NoticeSubtype: Hearing