CALGARY, AB, Feb. 22, 2024 /CNW/ – Following a disciplinary hearing held on July 26, 2023, in Calgary, Alberta, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) under the Mutual Fund Dealer Rules found that Michael Bock contravened MFDA Rule 2.1.1.
The hearing panel’s decision dated February 7, 2024 is available at:
Re Bock, 2024 CIRO 22
Specifically, the hearing panel found that Michael Bock:
altered and used to process transactions, 69 account forms in respect of 56 clients, by altering information on the account forms without having the client initial the alterations; andobtained, possessed, and in some instances used to process transactions, 18 pre-signed account forms in respect of 18 clients.
The hearing panel imposed a fine of $28,000 and required that Michael Bock complete an Ethics and Professional Conduct Course offered by the IFSE Institute, or a different industry course acceptable to CIRO Staff, within 12 months of service of this decision.
The hearing panel directed the parties to make submissions on costs, which will be determined separately.
During the period described in the Notice of Hearing, Michael Bock conducted business in the Calgary, Alberta area.
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)
