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CIRO Hearing Panel issues Reasons for Decision in the matter of Suzanne Ferguson
25-0298
Type:
Decision Notice
Rulebook connection
MFDR
Contact
Toronto (Ontario), October 28, 2025 – Following a settlement hearing held on October 6, 2025, pursuant to the Mutual Fund Dealer Rules, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) issued its reasons for decision on October 16, 2025.
The hearing panel’s reasons for decision are available at:
In their reasons for decision, the hearing panel found that Suzanne Ferguson failed in her obligations regarding the proper execution of client account documents by electronically signing client signatures on account forms and submitting them to the Dealer Member for processing.
The hearing panel also confirmed a prohibition from conducting securities related business in any capacity while in the employ of or associated with any CIRO Dealer Member for a period of six months, a fine of $14,000 and costs of $2,500 imposed on Suzanne Ferguson pursuant to the settlement agreement.
At all material times, Suzanne Ferguson was registered as a dealing representative with PFSL Investments Canada Ltd. in the St. Thomas, Ontario area. Suzanne Ferguson is currently not registered in the securities industry in any capacity.
| Media Inquiries | All other Inquiries |
|---|---|
| Ariel Visconti Senior Corporate Communications and Public Affairs Specialist avisconti@ciro.ca 416-526-8240 | Complaints & Inquiries Secure form Toll-free (Canada/US): 1-877-442-4322 |
The Canadian Investment Regulatory Organization (CIRO) is the pan-Canadian 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.
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25-0298
Type:
Decision Notice
Rulebook connection
MFDR
Contact
Other Notices associated with this Enforcement Proceeding:
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