Decision Notice - CIRO Hearing Panel issues Reasons for Decision in the matter of Jason Adam Beales

TORONTO, Dec. 18, 2024 /CNW/ - Following a settlement hearing held on November 25, 2024 pursuant to the Investment Dealer and Partially Consolidated Rules, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) found that Jason Beales disclosed potentially confidential information to multiple hedge fund clients.

The hearing panel issued their reasons for decision on December 10, 2024, which are available at:

Re Beales 2024 CIRO 89

In their reasons for decision, the hearing panel confirmed a fine of $60,000, a prohibition on approval for a period of six months, and a requirement to complete the Conduct and Practices Handbook Course (or equivalent) prior to approval in any capacity with CIRO imposed on Jason Beales as part of the settlement. Jason Beales is also required to pay costs in the amount of $5,000.

At all material times, Jason Beales was a Registered Representative at the Toronto branch of Stifel Nicolaus Canada Inc. Jason Beales is currently not registered in the securities industry in any capacity.

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.

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.

SOURCE Canadian Investment Regulatory Organization (CIRO)

Kate Morris, Senior Corporate Communications and Public Affairs Specialist, [email protected], Phone: [phone]