Enforcement Notice - IN THE MATTER OF Rizwan Suleiman - Discipline decision - Liability and Penalty

TORONTO, Aug. 30, 2016 /CNW/ - Following a disciplinary hearing held on June 22, 2016, in Toronto, Ontario, a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) found that Rizwan Suleiman altered a document and provided it to his Dealer Member firm.

The Hearing Panel's Reasons and Decision dated June 22, 2016 is available at: http://docs.iiroc.ca/DisplayDocument.aspx?DocumentID=D8DD09542383490DAFB16209C1B15616&Language=en

Documents related to ongoing IIROC enforcement proceedings – including Reasons and Decisions of Hearing Panels – are posted on the IIROC website as they become available. Click here to search and access all IIROC enforcement documents.

Specifically, the Hearing Panel found that Mr. Suleiman committed the following violation:


On or about July 2015, Mr. Suleiman altered an examination transcript relating to a securities industry course and provided the false transcript to his Dealer Member firm, contrary to IIROC Dealer Member Rule 29.1.

The Hearing Panel imposed the following penalties on Mr. Suleiman:


a six-month suspension from registration;


a fine of $30,000; and


a requirement to re-write the Conduct and Practices Handbook and Partners, Directors and Officers Examinations within 12 months of any re-registration.


Mr. Suleiman is also required to pay costs in the amount of $5,000.

IIROC formally initiated the investigation into Mr. Suleiman's conduct in August 2015. The violation occurred while he was a Registered Representative with ITG Canada Corp., an IIROC regulated firm. Mr. Suleiman is no longer a registrant with an IIROC regulated firm. 

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IIROC is the national self-regulatory organization which oversees all investment dealers and their trading activity in Canada's debt and equity markets. IIROC sets high quality regulatory and investment industry standards, protects investors and strengthens market integrity while supporting healthy Canadian capital markets. IIROC carries out its regulatory responsibilities through setting and enforcing rules regarding the proficiency, business and financial conduct of dealer firms and their registered employees and through setting and enforcing market integrity rules regarding trading activity on Canadian equity marketplaces.

IIROC investigates possible misconduct by its member firms and/or individual registrants. It can bring disciplinary proceedings which may result in penalties including fines, suspensions, permanent bars, expulsion from membership, or termination of rights and privileges for individuals and firms.

All information about disciplinary proceedings relating to current and former member firms is available in the Enforcement section of the IIROC website. Background information regarding the qualifications and disciplinary history, if any, of advisors currently employed by IIROC-regulated firms is available free of charge through the IIROC AdvisorReport service. Information on how to make investment dealer, advisor or marketplace-related complaints is available by calling 1 877 442-4322.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - General News

For further information: Enforcement Contact: Elsa Renzella, Vice-President, Enforcement, 416 943-5877, erenzella@iiroc.ca; Media Contact: Karen Archer, Manager, Media Relations, 416 865-3046, karcher@iiroc.ca


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