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Joanna Nicholson
Manager, Public Affairs

CIRO Hearing Panel issues Reasons for Decision in the matter of Jennifer Ajin

Toronto (Ontario), December 6, 2023 – A Hearing Panel of the Canadian Investment Regulatory Organization (“CIRO”), has issued its Reasons for Decision dated November 14, 2023 (“Reasons for Decision”), in connection with a settlement hearing held electronically by videoconference in Halifax, Nova Scotia on February 2, 2022, in the matter of Jennifer Ajin (the “Respondent”).

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

  • shall pay a fine in the amount of $12,500 (“Fine”);
  • Shall pay costs in the amount of $2,500 (“Costs”); and
  • shall in the future comply with MFDA Rule 2.1.1.

In the Settlement Agreement, the Respondent admitted between August 2019 and November 2019, she cut and pasted client signatures from copies of account forms previously signed by three clients onto four new account forms, and submitted the account forms to the Member for processing, contrary to MFDA Rule 2.1.1.

A copy of the Reasons for Decision, is available on the MFDA website at www.mfda.ca.

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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.

Background information regarding the qualifications and disciplinary history, if any, of advisors currently employed by CIRO-regulated firms (Investment Dealer Division) is available free of charge through the AdvisorReport service. Information on how to make investment 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.

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