VANCOUVER, BC, April 18,
2024 /CNW/ - Following a hearing held on July 11, 12, September
21, 22, 29 and November 3,
2023, a hearing panel of the Canadian Investment Regulatory
Organization (CIRO) under the Mutual Fund Dealer Rules found that
Alvinder Singh Gill:
a) misappropriated or failed to account
for monies that he received from individuals;
b) made false or misleading statements and
provided fictitious account documents to individuals which
misrepresented that he had invested the individuals' monies;
c) engaged in unapproved outside
activities; and
d) failed to cooperate with an
investigation by MFDA Staff into his conduct.
The hearing panel imposed the following sanctions on
Alvinder Gill:
a) a permanent prohibition; and
b) a total fine of $310,000.
Alvinder Gill is also required to
pay costs in the amount of $30,000.
The hearing panel's decision dated April
4, 2024 can be found at:
Re Gill, 2024 CIRO 45
At all material times, Alvinder
Gill conducted business in the Abbotsford, British Columbia area.
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.
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.
SOURCE Canadian Investment Regulatory Organization (CIRO)