CIRO penalizes representative for improper disclosure to hedge funds [Wealth Professional (Canada)]
Stifel Financial Corporation (SF)
Last stifel financial corporation earnings: 7/30 06:00 am
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Source: Wealth Professional
The Canadian Investment Regulatory Organization (CIRO) sanctioned Jason Beales following a settlement hearing held on November 25, under the Investment Dealer and Partially Consolidated Rules. A hearing panel determined that Beales disclosed potentially confidential information to several hedge fund clients. Beales, previously a Registered Representative and Managing Director of Sales at the Toronto branch of Stifel Nicolaus Canada Inc., disclosed details regarding a block trade transaction in April 2020. These disclosures involved shares of a publicly listed issuer, referred to as Issuer 1. One hedge fund client executed short sale transactions using this information, which resulted in a potential profit of $97,218. The panel noted that Beales was unaware of the client's short sales. The sanctions against Beales include a $60,000 fine, a six-month prohibition from approval in any capacity with CIRO, and a requirement to complete the Conduct and Practices Handbook Course be
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SF
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- 10/23/24 - Miss
SF
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- 12/20/24 - Form 4
- 12/19/24 - Form 8-K
- 12/13/24 - Form 4
- SF's page on the SEC website