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Joanna Nicholson
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CIRO Hearing Panel issues Reasons for Decision in the matter of George Yamamoto

Toronto (Ontario), December 5, 2023 – A Hearing Panel of the Canadian Investment Regulatory Organization (“CIRO”), has issued its Reasons for Decision dated November 27, 2023 (“Reasons for Decision”), in connection with a settlement hearing held electronically by videoconference in Toronto, Ontario on October 25, 2023 in the matter of George Yamamoto (the “Respondent”).

In its Reasons for Decision, the Hearing Panel confirmed the sanctions imposed on the Respondent. In particular, the Respondent:

  • shall be permanently prohibited from conducting securities related business in any capacity while in the employ of or associated with any Dealer Member of CIRO that is registered as a mutual fund dealer commencing on October 25, 2023;
  • shall pay a fine in the amount of $100,000; and
  • shall pay costs in the amount of $5,000.

A copy of the Reasons for Decision 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 Toronto, Ontario area.

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All information about disciplinary proceedings relating to current and former member firms and individual registrants is available in the Enforcement section of the IIROC website for investment dealer disciplinary proceedings and the MFDA website for mutual fund dealer disciplinary proceedings.

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.

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