CIRO Hearing Panel accepts settlement agreement with Shawn Michael Obradovic Mollons

November 14, 2023 (Toronto, Ontario) – A settlement hearing in the matter of Shawn Michael Obradovic Mollons (the “Respondent”) was held electronically by videoconference on September 11, 2023 in Winnipeg, Manitoba before a three-member Hearing Panel of the Manitoba District Hearing Committee of the Canadian Investment Regulatory Organization (“CIRO”).

The Hearing Panel accepted the settlement agreement dated August 1, 2023 (the “Settlement Agreement”), between Staff of CIRO and the Respondent as a consequence of which the following sanctions were imposed on the Respondent:

• the Respondent shall be prohibited from conducting securities related business in any capacity while in the employ of or associated with any Dealer Member of CIRO registered as a mutual fund dealer for a period of two months, commencing on the date that this settlement agreement is accepted by a Hearing Panel;
• a fine in the amount of $13,000 (“Fine”);
• costs in the amount of $2,500 (“Costs”);
  • $6,000 ($3,500 fine and $2,500 costs) upon acceptance of the Settlement Agreement;
  • 3,500 (fine) on or before the last business day of the first month following the date of the Settlement Agreement;
  • $3,500 (fine) on or before the last business day of the second month following the date of the Settlement Agreement; and
  • $2,500 (fine) on or before the last business day of the third month following the date of the Settlement Agreement;

In the Settlement Agreement, the Respondent admitted between August 30, 2021 and November 16, 2021, the Respondent signed the signatures or initials of five clients on six account forms and submitted them to the Dealer Member for processing, contrary to Mutual Fund Dealer Rule 2.1.1 (formerly MFDA Rule 2.1.1).

A copy of the Settlement Agreement is available on the MFDA website at www.mfda.ca. During the period described in the Settlement Agreement, the Respondent carried on business in the Winnipeg, Manitoba 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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