VANCOUVER, BC, Jan. 9, 2026 /CNW/ - On December 9, 2025, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) held a hearing pursuant to the Mutual Fund Dealer Rules and accepted a settlement agreement, with sanctions, between Enforcement Staff and Franco Caligiuri.
Franco Caligiuri admitted to referring clients to an individual or company that sold exempt securities, and received referral fees for doing so, thereby participating in a referral arrangement to which the Dealer Member was not a party; and made a false or misleading statement to the Dealer Member during a sub-branch review.
Pursuant to the settlement agreement, Franco Caligiuri agreed to a suspension from conducting securities-related activities with any CIRO Dealer Member for one month, beginning four days after the hearing panel accepts the settlement agreement. He also agreed to pay a $15,000 fine and costs of $5,000.
The settlement agreement is available at:
Caligiuri, Franco – Settlement Agreement
The hearing panel's decision will be made available at www.ciro.ca.
At all material times, Franco Caligiuri conducted business at Quadrus Investment Services Ltd. in the Burnaby, British Columbia area. Franco Caligiuri is currently employed by and registered with a CIRO-regulated firm.
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.
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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