Following a disciplinary hearing held on April 6, 2016, in Toronto, Ontario, a hearing panel of the Investment Industry Regulatory Organization of Canada found that Dominic Tersigni effected unauthorized trades.

Specifically, the hearing panel found that Tersigni committed the following violation:

  • between February 2009 and May 2014, Tersigni effected unauthorized trades in the accounts of two clients, contrary to IIROC Dealer Member Rule 29.1.

The hearing panel imposed the following penalties on Tersigni:

(a) a one-year suspension from registration in any capacity;
(b) payment of a fine in the amount of $25,000;
(c) a requirement to re-write the Conduct and Practices Handbook examination, upon any re-registration; and
(d) a requirement that any future re-registration shall be subject to a six-month period of close supervision.

Tersigni is also required to pay costs in the amount of $25,000.

IIROC formally initiated the investigation into Tersigni’s conduct in June 2014. The violation occurred while he was a registered representative with a St. Catharines, Ontario branch of CIBC World Markets Inc., an IIROC-regulated firm. Tersigni is no longer a registrant with an IIROC-regulated firm.