CIRO Hearing Panel issues Reasons for Decision in the matter of Ken David Derksen

November 14, 2023 (Toronto, Ontario) – A Hearing Panel of the Canadian Investment Regulatory Organization (“CIRO”), has issued its Reasons for Decision dated October 25, 2023 (“Reasons for Decision”), in connection with a disciplinary hearing held electronically by videoconference in Vancouver, British Columbia on December 7, 2022, in the matter of Ken David Derksen (the “Respondent”).

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

• shall be permanent prohibited from conducting securities related business in any capacity while in the employ of or associated with any MFDA Member;
• shall pay a fine in the amount of $315,000; and
• shall pay costs in the amount of $10,000.

A copy of the Reasons for Decision is available on the MFDA website at www.mfda.ca. During the period described in the Reasons for Decision, the Respondent conducted business in the Victoria, British Columbia area.

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 carrying on the regulatory functions of the Investment Industry Regulatory Organization of Canada and the Mutual Fund Dealers Association of Canada, and 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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