SASKATOON, SK, Nov. 8, 2024 /CNW/ - Following a sanctions hearing held on October 30, 2024, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) under the Mutual Fund Dealer Rules imposed the following sanctions on Ryan Rilloraza Manalang:
a) a fine of $22,000; and
b) completion of an ethics or industry course acceptable to CIRO Staff
Ryan Manalang is also required to pay costs in the amount of $5,000.
In an earlier decision dated May 28, 2024, the Hearing Panel found that Ryan Manalang:
a) photocopied the signature pages from two account forms previously signed by a client and reused the signature pages on two account forms and submitted the forms to the Dealer Member for processing; and
b) obtained, possessed, and in some instances used to process transactions, 29 pre-signed account forms in respect of 9 clients.
The decision on Liability can be found at:
During the period described in the Notice of Hearing, Ryan Manalang conducted business in the Saskatoon, Saskatchewan area.
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: 416-779-8301
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