Hearing Notice – CIRO Hearing Panel Finds Donald Warren Metcalfe Liable
VANCOUVER, BC, Dec. 20, 2023 /CNW/ – Following a disciplinary hearing held on October 23 and 24, 2023, in Vancouver, British Columbia, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) found that Donald Warren Metcalfe engaged in fraudulent conduct with respect to loan financing and failed to cooperate with an investigation in breach of the CIRO Investment Dealer and Partially Consolidated Rules.
The hearing panel’s reasons for the decision on liability, dated December 11, 2023, are available at:
Specifically, the hearing panel found that Donald Warren Metcalfe committed the following violations:
a) between November 2018 and January 2020, the respondent engaged in and enabled fraudulent conduct committed by Gary Man King Ng with respect to loan financing; and
b) in August 2020, the respondent failed to attend an interview with Enforcement Staff and failed to cooperate with an investigation.
A separate hearing will be held to determine the penalty to be imposed on the respondent, the date of which will be made available at www.ciro.ca.
The alleged violations occurred while Donald Warren Metcalfe was a Director and Executive with PI Financial Corp. and Chippingham Financial Group Limited. The respondent is no longer a registrant with a CIRO-regulated firm.
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)
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