IIROC hearing on alleged misrepresentations by Ali Reza Sultani

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An appearance has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) for the purpose of setting a date for the disciplinary hearing in the matter of Ali Reza Sultani.

The discipline hearing concerns allegations that Mr. Sultani would have made, on at least four occasions, misrepresentations about the reasons and timing for the termination of his previous employment with CIBC Securities Inc. in order to be hired for a new job with RBC Direct Investing Inc., going so far as to falsify a document to this effect.

The set date appearance is open to the public, unless the Hearing Panel orders otherwise. The date for the discipline hearing will be made available at www.iiroc.ca. The appearance has been set for July 21, 2016, 10:00 am. IIROC – Carmen Crépin Room, 5 Place Ville-Marie, suite 1550, Montréal, Québec.

Documents related to ongoing IIROC enforcement proceedings – including Reasons and Decisions of Hearing Panels – are posted on the IIROC website as they become available.

Specifically, the allegations are that: From April 2013 to February 2014, Mr. Sultani made misrepresentations to his employer, RBC Direct Investing Inc., about the reasons and timing for the termination of his previous employment with CIBC Securities Inc., contrary to IIROC Dealer Member Rule 29.1; and On or about January 21, 2014, Mr. Sultani falsified the physical copy of the Notice of Termination of Registered Individuals and Permitted Individuals (Form 33-109F1) given to him by CIBC Securities Inc., his previous employer, in order not to disclose to his new employer, RBC Direct Investing Inc., that he had been dismissed, contrary to IIROC Dealer Member Rule 29.1.

IIROC formally initiated the investigation into Mr. Sultani’s conduct in May 2014.  Mr. Sultani is no longer a registrant with an IIROC-regulated firm.  – CNW

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