WINNIPEG, MB, Aug. 8, 2024
/CNW/ - A sanctions hearing was held before a hearing panel of
the Canadian Investment Regulatory Organization (CIRO) under the
Mutual Fund Dealer Rules in the matter of Andrew Kazina on March
20, 2024. The sanctions hearing will continue on
September 27, 2024.
The hearing concerns allegations that Andrew Kazina:
(a)
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engaged in outside
business activities that were not disclosed to and approved by the
Member by operating businesses that provided tax and financial
planning services to individuals, and marketing, franchising and
other consulting services to businesses,
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(b)
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recommended and
accepted approximately $257,500 for investment in a business that
he operated from at least eight clients and at least two
non-clients, thereby engaging in securities related business that
was not carried on for the account of the Member or processed
through the facilities of the Member,
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(c)
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solicited approximately
$232,500 from at least eight clients that he used to finance and
operate his business and commingled the money with his personal
savings in bank accounts that he held in his own name or jointly
with his wife, thereby engaging in personal financial dealings with
clients that gave rise to a conflict of interest that he failed to
disclose to the Member or address by the exercise of responsible
business judgment influenced only by the best interests of the
clients, and
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(d)
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provided false or
misleading information to the Member in responses to questions on
annual compliance questionnaires from the Member.
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The hearing is open to the public, unless the panel orders
otherwise. The decision of the hearing panel will be made available
at www.ciro.ca.
Hearing Date: September 27, 2024, at 10:00 a.m.
Location: Winnipeg,
Manitoba (via videoconference)
Members of the public who would like to obtain further
particulars should fill out this questionnaire.
The Notice of Hearing and Statement of Allegations, which set
out the allegations, are available at:
Kazina, Andrew - Notice of Hearing and Statement of
Allegations
The violations occurred while Andrew
Kazina conducted business in the Winnipeg, Manitoba area. The Respondent is not
currently registered in the securities industry in any
capacity.
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.
All information about disciplinary proceedings relating to
current and former member firms and individual registrants under
the Investment Dealer and Partially Consolidated
Rules (for investment dealers), the Mutual Fund Dealer
Rules (for mutual fund dealers) and the Universal Market
Integrity Rules (UMIR) is available on CIRO's
website.
Background information regarding the qualifications and
disciplinary history, if any, of advisors currently employed by
CIRO-regulated investment firms is available free of charge through
the AdvisorReport service. Information on how to
make 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.
SOURCE Canadian Investment Regulatory Organization (CIRO)