Decision Notice - CIRO Hearing Panel issues Reasons for Decision in the matter of Domino Au-Young

VANCOUVER, BC, Jan. 29, 2024 /CNW/ - Following a settlement hearing held under the Investment Dealer and Partially Consolidated Rules on October 19, 2023 in Vancouver, British Columbia, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) found that Domino Au-Young:

• misappropriated funds from clients' accounts,
• misled his firm and Enforcement Staff about the circumstances of the misappropriation of clients' funds,
• failed to disclose and obtain approval of his firm for an outside business interest,
• communicated with clients using an unapproved communications method in violation of his firm's policies and procedures and the Investment Dealer and Partially Consolidated Rules.

The hearing panel issued its reasons for decision on January 4, 2024, which are available at:

Re Au-Young 2024 CIRO 03

In its reasons for decision, the hearing panel confirmed the sanctions imposed on the respondent, in particular:

• a permanent ban from registration in any capacity, and
• a fine of $125,000

The respondent is also required to pay costs in the amount of $7,500.

The alleged violations occurred while Domino Au-Young was a Registered Representative with the National Bank Financial Ltd. and Echelon Wealth Partners Inc. Domino Au-Young is no longer a registrant with a CIRO-regulated firm.

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]