CIRO announces disciplinary proceeding in respect of Samantha Cauvier
July 6, 2023 (Toronto, Ontario) – The Canadian Investment Regulatory Organization (“CIRO”) has commenced disciplinary proceedings in respect of Samantha Jane Cauvier (the “Respondent”). In its Notice of Hearing dated June 9, 2023 (the “Notice of Hearing”), Staff of CIRO alleges that the Respondent engaged in the following violations of the Mutual Fund Dealer Rules:
Allegation #1: Between February 2021 and June 2021, the Respondent:
- instructed a client to falsely inform the Dealer Member that the client was a resident of Ontario; or
- in respect of a second client, falsely recorded on account opening documentation that the client was a resident of Ontario,
thereby enabling the Respondent to circumvent the Dealer Member’s prohibition against transacting business in provinces where the Respondent was not registered, contrary to the Member’s policies and procedures and Mutual Fund Dealer Rules 2.1.1, 2.2.1 and 1.1.2 (as it relates to Rule 2.5.1) (formerly MFDA Rules 2.1.1, 2.2.1, 1.1.2, and 2.5.1).
Allegation #2: Between February 2021 and June 2021, the Respondent opened a new account and processed the purchase of mutual funds in respect of a client who resided in a province in which the Respondent was not registered, contrary to the Member’s policies and procedures and Mutual Fund Dealer Rules 1.1.5, 2.1.1 and 1.1.2 (as it relates to Rule 2.5.1) (formerly MFDA Rules 1.1.5, 2.1.1, 1.1.2, and 2.5.1).
The first appearance in this proceeding will take place by teleconference before a Hearing Panel of CIRO’s Ontario District Hearing Committee on July 17, 2023 at 10:00 a.m. (Eastern), 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 www.mfda.ca. During the period described in the Notice of Hearing, the Respondent conducted business in the Carleton Place, Ontario 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.
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