Decision Notice - A CIRO Hearing Panel sanctions Louis Josh Lieff
TORONTO, Jan. 9, 2026 /CNW/ - Following a sanctions hearing held on November 6, 2025, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) under the Investment Dealer and Partially Consolidated Rules imposed the following sanctions on Louis Josh Lieff:
a) a permanent prohibition from conducting securities-related business while in the employ of or associated with any Dealer Member of CIRO,
b) disgorgement of $238,073, and
c) a fine of $200,000.
Louis Lieff is also required to pay $15,000 in costs.
In an agreed statement of facts, Louis Lieff admitted to engaging in a securities-related business outside the Dealer Member by soliciting investors and facilitating investments in the purchase and resale of used vehicles business.
The hearing panel's decision dated December 16, 2025, is available at:
The violations occurred while Louis Lieff was a Registered Representative with Quadrus Investment Services Ltd. in Concord, Ontario. Louis Lieff is not currently registered in the securities industry in any capacity.
The Canadian Investment Regulatory Organization (CIRO) is the pan-Canadian 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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SOURCE Canadian Investment Regulatory Organization (CIRO)