Skip to Main Content

For further information, please contact:

Joanna Nicholson
Manager, Public Affairs

CIRO Hearing Panel makes findings of misconduct and imposes sanctions against Jennifer Beh

November 30, 2023 (Toronto, Ontario) – The Mutual Fund Dealers Association of Canada (“MFDA”) now Canadian Investment Regulatory Organization (“CIRO”), commenced a disciplinary proceeding in respect of Jennifer Beh (the “Respondent”) by Notice of Hearing dated February 1, 2023 (“Notice of Hearing”).

A disciplinary hearing in this matter was held electronically by videoconference on August 11, 2023 before a three-member Hearing Panel of CIRO’s Pacific District Hearing Committee. After receiving evidence and hearing submissions from CIRO Staff with respect to misconduct, the Hearing Panel made the following findings against the Respondent:

Allegation #1: Commencing on or about November 17, 2021, the Respondent failed to cooperate with MFDA Staff’s investigation into the Respondent’s conduct, contrary to Mutual Fund Dealer Rule 6.2.1 (formerly section 22.1 of MFDA By-law No. 1). [1]

The Hearing Panel imposed the following sanctions on the Respondent and advised that it will issue written reasons in due course:

  • A permanent prohibition from conducting securities related business in any capacity while in the employ of or associated with any Dealer Member of CIRO registered as a mutual fund dealer pursuant to Mutual Fund Dealer Rule 7.4.1.1(e);
  • a fine in the amount of $50,000; and
  • costs in the amount of 7,500.

A copy of the Notice of Hearing is available on the MFDA website at www.mfda.ca. During the period described in the Notice of Hearing, the Respondent conducted business in the Vancouver, British Columbia area.

Canadian Investment Regulatory Organization 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 carrying on the regulatory functions of the Investment Industry Regulatory Organization of Canada and the Mutual Fund Dealers Association of Canada, and 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.

-30-

[1] Staff alleges that, at the time of the misconduct, the Respondent contravened section 22.1 of MFDA By-law No. 1, which is now incorporated into Mutual Fund Dealer Rule 6.2.1 referred to in this proceeding.

DM 908531