CIRO Sanctions Allen Murphy 

24-0173
Type:
Decision Notice
Rulebook connection
IDPC Rules

Contact

Toronto (Ontario), May 16, 2024 – On June 20, 2023, a panel of the Canadian Investment Regulatory Organization (CIRO) held a hearing pursuant to the Investment Dealer and Partially Consolidated Rules and accepted a settlement agreement, with sanctions, between Enforcement Staff and Allen Murphy.

Allen Murphy admitted to facilitating off-book investments in a TSXV-listed issuer without his firm’s consent.

Pursuant to the settlement agreement, Allen Murphy agreed to the following sanctions:

  1. a fine of $35,000,
  2. a one-month suspension, and
  3. a two-month strict supervision.

Allen Murphy also agreed to pay costs in the amount of $5,000.

The Settlement Agreement is available at:

Murphy, Allen – Settlement Agreement

The hearing panel’s decision will be made available at www.ciro.ca.

The violations occurred while Allen Murphy was a Registered Representative with the Thornhill branch of CIBC World Markets Inc. Allen Murphy continues to be employed in the industry in a registered capacity.

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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24-0173
Type:
Decision Notice
Rulebook connection
IDPC Rules

Contact

Other Notices associated with this Enforcement Proceeding: