CIRO Hearing Panel issues Reasons for Decision in the matter of Balji Rana

TORONTO, Dec. 19, 2023 /CNW/ - A Hearing Panel of the Canadian Investment Regulatory Organization ("CIRO"), has issued its Reasons for Decision dated November 21, 2023 ("Reasons for Decision"), in connection with a settlement hearing held electronically by videoconference in Vancouver, British Columbia on May 25, 2023 in the matter of Baljit Bassi Rana (the "Respondent").

In its Reasons for Decision, the Hearing Panel confirmed the sanctions imposed on the Respondent. In particular, the Respondent:

• shall pay a fine in the amount of $18,000; and
• shall pay costs in the amount of $2,500.

A copy of the Reasons for Decision is available on the MFDA website at www.mfda.ca.

During the period described in the Notice of Hearing, the Respondent conducted business in the Golden, 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)

Joanna Nicholson Manager, Public Affairs, 416-943-4640, [email protected]