Decision Notice - CIRO Hearing Panel issues Reasons for Decision in the matter of Andrew John Lougheed Français
TORONTO, Aug. 27, 2025 /CNW/ - Following a sanctions hearing held on July 17, 2025 pursuant to the Investment Dealer and Partially Consolidated Rules, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) imposed the following sanctions on Andrew John Lougheed:
a) a fine of $20,000;
b) disgorgement of $74,531; and
c) a prohibition from registration in any capacity with CIRO for a period ending on the later of July 17, 2026, and the date that the general fine, disgorgement, and costs awarded have been paid in full
Andrew Lougheed will also pay $15,000 in costs.
Following a disciplinary hearing held on June 16, 2025, the hearing panel found that Andrew Lougheed had facilitated off-book investments in a private placement without the knowledge or approval of the Dealer Member and had engaged in an outside business activity in connection with facilitating the off-book investments.
The reasons for decision on liability and sanctions can be found at:
The violations occurred while Andrew Lougheed was a Registered Representative with a Barrie branch of Scotia Capital Inc. Andrew Lougheed is not currently registered in the securities industry in any capacity.
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.
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.
SOURCE Canadian Investment Regulatory Organization (CIRO)
Media Inquiries: Ariel Visconti Senior Corporate Communications and Public Affairs Specialist, [email protected] / 416-526-8240; All other Inquiries: Complaints & Inquiries, Secure form, https://www.ciro.ca/complaint-and-inquiry-submission-secure-form Toll-free (Canada/US) 1-877-442-4322
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