TORONTO, Sept. 4, 2025 /CNW/ - An initial appearance has been scheduled before a hearing panel of the Canadian Investment Regulatory Organization (CIRO) pursuant to the Mutual Fund Dealer Rules in the matter of PFSL Investments Canada Ltd. (PFSL).
The initial appearance is open to the public unless the hearing panel orders otherwise. The date for the disciplinary hearing will be made available at www.ciro.ca.
Initial Appearance Date: October 3, 2025 at 10:00 a.m. (Eastern Time)
Location: Toronto, Ontario (via videoconference)
Members of the public, who would like to obtain further particulars, should fill out this form.
The hearing concerns allegations that PFSL failed to:
(a) implement adequate policies and procedures, and internal controls to ensure the authenticity, integrity, and reliability of client signatures collected through its electronic signature platforms,
(b) adequately query large and atypical redemptions processed in the accounts of a client,
(c) adequately query large and atypical investments made by two of its Approved Persons,
(d) implement adequate policies and procedures, and internal controls with respect to the naming of Trusted Contact Persons, and
(e) have policies and procedures with respect to Approved Persons accepting appointments as powers of attorney and executors by clients that ensured compliance with the Mutual Fund Dealer Rules (formerly MFDA Rules).
The Notice of Hearing and Statement of Allegations, which set out the allegations, are available at:
PFSL Investments Canada Ltd. – Notice of Hearing and Statement of Allegations
PFSL has been a Mutual Fund Dealer Member in all provinces and territories since January 2022.
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.
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SOURCE Canadian Investment Regulatory Organization (CIRO)
Media Inquiries: Ariel Visconti, Senior Corporate Communications and Public Affairs Specialist, [email protected] / 416-526-8240
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