CIRO terminates Gravitas' membership following its consent to a suspension order from June 2023
A hearing panel of the Canadian Investment Regulatory Organization (CIRO) terminated the membership rights and privileges of Gravitas Securities Inc.
This followed an application hearing held on August 7 under the Investment Dealer and Partially Consolidated Rules.
Gravitas' membership in CIRO had already been suspended by a protective order issued on June 8, 2023. Gravitas consented to this order terminating its membership.
The reasons for the hearing panel's decision, dated September 9, are accessible at Re Gravitas 2024 CIRO 69.
CIRO functions as the national self-regulatory body for investment and mutual fund dealers and oversees trading on Canada's debt and equity marketplaces. It aims to protect investors by ensuring consistent regulation and fostering public trust in financial oversight.
Information on disciplinary proceedings, including those related to member firms and individual registrants under the Investment Dealer and Partially Consolidated Rules, the Mutual Fund Dealer Rules, and the Universal Market Integrity Rules (UMIR), is available on CIRO's website.
CIRO provides access to disciplinary histories and advisor qualifications through its AdvisorReport service. Complaint procedures related to dealers, advisors, or marketplaces are accessible by calling 1-877-442-4322.
CIRO is responsible for investigating potential misconduct by its members and registrants, which may result in sanctions such as fines, suspensions, or the termination of rights and privileges.
