Decision Notice - A CIRO Hearing Panel Issues its Reasons for Decision in the Leszek Dziadecki Matter

TORONTO, March 19, 2024 /CNW/ - Following a penalty hearing held on January 30, 2024, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) under the Mutual Fund Dealer Rules imposed the following sanctions on Leszek Dziadecki:

1. 1. 1. A permanent prohibition from conducting securities related business in any capacity while in the employ of, or in association with, any Dealer Member of CIRO who is registered as a Mutual Fund Dealer, and
      2. a fine of $300,000

Leszek Dziadecki is also required to pay costs in the amount of $30,000.

The reasons for decision on penalty dated March 11, 2024, can be found at:

Re Dziadecki, 2024 CIRO 35

In earlier reasons for decision dated September 26, 2023, the hearing panel found that Leszek Dziadecki:

1. 1. 1. engaged in securities related business that was not carried on for the account of the Member or conducted through its facilities by recommending, selling, or facilitating the sale of syndicated mortgage investments to clients and other individuals, and
      2. engaged in unapproved outside business activities in relation to syndicated mortgage investments.

The reasons for decision on liability can be found at:

Re Dziadecki, 2023 CIRO 15

During the period described in the Notice of Hearing, Leszek Dziadecki conducted business in the Mississauga, Ontario 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, Corporate Communications and Public Affairs, [email protected]