CIRO Hearing Panel issues Decision and Reasons in the matter of Brent Polischuk

November 2, 2023 (Toronto, Ontario) – The Mutual Fund Dealers Association of Canada (“MFDA”), now Canadian Investment Regulatory Organization (“CIRO”), commenced a disciplinary proceeding in respect of Brent Michael Polischuk (the “Respondent”) by Notice of Hearing dated April 7, 2022 (the “Notice of Hearing”).

A disciplinary hearing in this proceeding was held electronically by videoconference on May 18, 2023 before a three-member Hearing Panel of CIRO’s Pacific District Hearing Committee. After receiving an Agreed Statement of Facts dated April 6, 2023 and hearing submissions by the parties with respect to penalty, the Hearing Panel reserved its judgment and advised it will issue its decision and written reasons in due course.

The Hearing Panel has issued its Decision and Reasons dated October 12, 2023 (“Decision and Reasons”), in connection with the aforementioned disciplinary hearing.

In its Decision and Reasons, the Hearing Panel imposed the following sanctions on the Respondent:

• A permanent prohibition from conducting securities related business while in the employ of or associated with any Dealer Member of the Corporation that is registered as a mutual fund dealer;
• A fine of $75,000, not payable until May 15, 2025; and
• Costs of $10,000, not payable until May 15, 2025.

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

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