October 31, 2023 (Toronto, Ontario) – A Hearing Panel of the Canadian Investment Regulatory Organization (“CIRO”), has issued its Reasons for Decision (Motion) dated September 26, 2023, in connection with a motion heard electronically by videoconference in Toronto, Ontario on February 21, 2023, and its Reasons for Decision (Misconduct) dated September 26, 2023, in connection with a disciplinary hearing held electronically by videoconference in Toronto, Ontario on February 27-28, 2023, March 29, 2023 and May 16, 2023, in the matter of Leszek Dziadecki (the “Respondent”).
In its Reasons for Decision (Misconduct), the Hearing Panel outlined its findings of misconduct made against the Respondent. In particular, the Panel found that the Respondent:
- Allegation #1: Between 2015 and 2016, the Respondent engaged in securities related business that was not carried on for the account of the Member or conducted through its facilities by recommending, selling, or facilitating the sale of syndicated mortgage investments to clients and other individuals, contrary to the Member’s policies and procedures and MFDA Rules 1.1.1, 2.1.1, and 1.1.2 (as it relates to MFDA Rule 2.5.1).
- Allegation #2: Between 2015 and 2017, the Respondent engaged in unapproved outside business activities in relation to syndicated mortgage investments, contrary to the Member’s policies and procedures and MFDA Rules 1.2.1(c) (now MFDA Rule 1.3), 2.1.1, and 1.1.2 (as it relates to MFDA Rule 2.5.1).
Submissions with respect to sanctions will take place by electronic hearing before the Hearing Panel on a date to be determined and announced accordingly.
Copies of the Reasons for Decisions (Misconduct) and the Reasons for Decisions (Motion) are available on the MFDA website at www.mfda.ca. During the period described in the Notice of Hearing, the Respondent conducted business in the Mississauga, Ontario area.
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.