Decision Notice - CIRO Hearing Panel issues Reasons for Decision in the matter of Canaccord Genuity Corp.

VANCOUVER, BC, Feb. 2, 2024 /CNW/ - Following a settlement hearing under the Investment Dealer and Partially Consolidated Rules held on December 20, 2023 in Vancouver, British Columbia, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) found that Canaccord Genuity Corp. failed to comply with its trading supervision obligations to maintain a system of risk management and supervisory controls, policies and procedures that are reasonably designed to ensure compliance with the applicable Rules and Policies as they relate to market access by some of its direct electronic access clients.

The hearing panel issued its reasons for decision on January 24, 2024, which are available at:

Re Canaccord Genuity Corp 2024 CIRO 18 

In its reasons for decision, the hearing panel confirmed the fine of $475,000 imposed on Canaccord Genuity Corp. and costs in the amount of $25,000.

Canaccord Genuity Corp. is a CIRO-regulated investment dealer.

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, [email protected], Phone: [phone]