VANCOUVER, BC, July 31,
2024 /CNW/ - Following a settlement hearing held on
July 15, 2024 pursuant to the Mutual
Fund Dealer Rules, a hearing panel of the Canadian Investment
Regulatory Organization (CIRO) found that Gulnar
Carlisle signed a client's signature using electronic signature
platforms on approximately 84 account forms with respect to 34
clients and submitted the account forms to the Dealer Member for
processing, contrary to Mutual Fund Dealer Rule 2.1.1.
The hearing panel issued its reasons for decision on
July 22, which are available at:
Re Carlisle 2024 CIRO 64
Pursuant to the settlement agreement, Gulnar Carlisle agreed to a prohibition from
conducting securities related business for 6 months, a fine of
$10,000 and costs of $2,500.
The violations occurred while Gulnar
Carlisle was a Registered Representative with a North Vancouver, British Columbia branch of
Investors Group Financial Services Inc. Gulnar Carlisle is not currently a registrant
with a CIRO-regulated firm.
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)