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For further information, please contact:

Charles Toth
Vice President, Enforcement
Mark Stott
Vice-President, Prairie Region

New SRO announces disciplinary proceeding in respect of Dejan Ristovski

April 4, 2023 (Toronto, Ontario) – The New Self-Regulatory Organization of Canada (“New SRO”) has commenced disciplinary proceedings in respect of Dejan Ristovski (the “Respondent”). In its Notice of Hearing dated March 3, 2023 (the “Notice of Hearing”), Staff of New SRO alleges that the Respondent engaged in the following violations of the Mutual Fund Dealer Rules:[1]

Allegation #1: Between August 17, 2017 and March 2, 2021, the Respondent misappropriated or otherwise failed to account for monies, contrary to Mutual Fund Dealer Rule 2.1.1 (formerly MFDA Rule 2.1.1).

Allegation #2: Between June 1, 2017 and October 18, 2018, the Respondent engaged in personal financial dealings with a client which gave rise to a conflict or potential conflict of interest that he failed to disclose to the Dealer Member or otherwise ensure was addressed by the exercise of responsible business judgment influenced only by the best interests of the client, contrary to the policies and procedures of the Dealer Member and Mutual Fund Dealer Rules 2.1.4, 2.1.1, and 1.1.2 (as it relates to Mutual Fund Dealer Rule 2.5.1) (formerly MFDA Rules 2.1.4, 2.1.1, 1.1.2, and 2.5.1, respectively).

Allegation #3: Commencing June 18, 2021, the Respondent failed to cooperate with an investigation by MFDA Staff into his conduct, contrary to Mutual Fund Dealer Rule 6.2.1 (formerly section 22.1 of MFDA By-Law No. 1).

The first appearance in this proceeding will take place by teleconference before a Hearing Panel of the New SRO’s Alberta District Hearing Committee on April 11, 2023 at 10:00 a.m. (Mountain), or as soon thereafter as the appearance can be held, to schedule a date for the commencement of the hearing on the merits and to address any other procedural issues. The appearance will be open to the public, except as may be required for the protection of confidential matters. Members of the public who would like to listen to the teleconference should contact [email protected] to obtain particulars.

A copy of the Notice of Hearing is available on the MFDA website at During the period described in the Notice of Hearing, the Respondent conducted business in the Calgary, Alberta area.

New Self-Regulatory Organization of Canada is the national self-regulatory organization that oversees all investment dealers, mutual fund dealers and trading activity on Canada’s debt and equity marketplaces. New SRO 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


[1] Staff alleges that at the time of the misconduct, the Respondent contravened MFDA Rules 2.1.1, 2.1.4, 1.1.2, 2.5.1, and section 22 of MFDA By-law No 1, which are now incorporated into Mutual Fund Dealer Rules 2.1.1, 2.1.4, 1.1.2, 2.5.1, and 6.2.1 referred to in this proceeding. On June 30, 2021, amendments to MFDA Rule 2.1.4 came into effect. As the conduct addressed in this proceeding pre-dated the amendment to that Rule, the version of MFDA Rule 2.1.4 that was in effect between February 27, 2006 and June 30, 2021 is applicable to this proceeding.

DM 903320