Continuation of Sanctions Hearing in the matter of Andrew Kazina

24-0140
Type:
Hearing Notice
Rulebook connection
MFDA Rules

Contact

Winnipeg (Manitoba), April 5, 2024 – A sanctions hearing was held before a hearing panel of the Canadian Investment Regulatory Organization (CIRO) under the Mutual Fund Dealer Rules in the matter of Andrew Kazina on March 20, 2024. The sanctions hearing will continue on June 13, 2024.

The hearing concerns allegations that Andrew Kazina:

  1. engaged in outside business activities that were not disclosed to and approved by the Member by operating businesses that provided tax and financial planning services to individuals, and marketing, franchising and other consulting services to businesses,
  2. recommended and accepted approximately $257,500 for investment in a business that he operated from at least eight clients and at least two non-clients, thereby engaging in securities related business that was not carried on for the account of the Member or processed through the facilities of the Member,
  3. solicited approximately $232,500 from at least eight clients that he used to finance and operate his business and commingled the money with his personal savings in bank accounts that he held in his own name or jointly with his wife, thereby engaging in personal financial dealings with clients that gave rise to a conflict of interest that he failed to disclose to the Member or address by the exercise of responsible business judgment influenced only by the best interests of the clients, and
  4. provided false or misleading information to the Member in responses to questions on annual compliance questionnaires from the Member.

The hearing is open to the public, unless the panel orders otherwise. The decision of the hearing panel will be made available at www.ciro.ca.

Hearing Date: June 13, 2024, at 10:00 a.m.

Location: Winnipeg, Manitoba (via videoconference)

Members of the public who would like to obtain further particulars should fill out this questionnaire.

The Notice of Hearing and Statement of Allegations, which set out the allegations, are available at:

Kazina, Andrew - Notice of Hearing and Statement of Allegations

The violations occurred while Andrew Kazina conducted business in the Winnipeg, Manitoba 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.

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24-0140
Type:
Hearing Notice
Rulebook connection
MFDA Rules

Contact

Other Notices associated with this Enforcement Proceeding:

Go to the summary page for this Enforcement Proceeding