CIRO Hearing Panel issues reasons for decision in the matter of Antony Kin San Chau

24-0158
Type:
Decision Notice
Rulebook connection
MFDA Rules

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Toronto (Ontario) – April 25, 2024 – Following a disciplinary hearing held on March 27, 2024, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) under the Mutual Fund Dealer Rules found that Antony Kin San Chau failed to disclose an agreement that was material to a proposed transaction to effect a change of control of a Member of the MFDA, thereby:

  1. failing to provide full disclosure of the material terms of the proposed transaction;
  2. failing to provide information to the MFDA that it required or considered necessary or desirable; and
  3. misleading the MFDA concerning the full terms of the proposed change of control.

The hearing panel imposed the following sanctions on Antony Chau

  1. a permanent prohibition from conducting securities related business while in the employ of or associated with any Dealer Member of CIRO registered as a mutual fund dealer, and
  2. a fine of $65,000.

Antony is also required to pay costs in the amount of $6,000.

The hearing panel’s decision dated April 16, 2024, is available at:

Re Chau 2024 CIRO 47

During the period described in the Notice of Hearing, Antony conducted business in the Richmond Hill, Ontario, area.

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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24-0158
Type:
Decision Notice
Rulebook connection
MFDA Rules

Contact