Sanctions Hearing for Ryan Manalang Rescheduled in Saskatoon on Oct 8, 2024

A sanctions hearing concerning Ryan Manalang, initially set for October 8, 2024, has been rescheduled to October 30, 2024, at 10:00 a.m. Central Time. This hearing will take place via videoconference and is open to the public unless otherwise directed by the hearing panel. The Canadian Investment Regulatory Organization (CIRO) oversees this process, which is part of its commitment to maintaining investor protection and regulatory integrity in Canada. The hearing panel will address sanctions following a decision made on May 28, 2024, where Manalang was found guilty of serious misconduct. Specifically, he photocopied signature pages from two account forms signed by a client and reused them on new forms submitted for processing. Additionally, he was found to have obtained and used 29 pre-signed account forms from nine clients, raising significant ethical concerns regarding his practices. CIRO, as the national self-regulatory organization, is responsible for regulating investment dealers and mutual fund dealers in Canada. It aims to ensure that all trading activities are conducted fairly and transparently, thereby fostering trust among investors. The organization has the authority to impose various sanctions, including fines and suspensions, depending on the severity of the misconduct. The outcome of the sanctions hearing will be made public on CIRO's website, providing transparency regarding the disciplinary actions taken against Manalang. This case highlights the importance of ethical conduct in the financial services industry and the regulatory measures in place to protect investors from potential misconduct.