Decision Notice – CIRO Hearing Panel issues Reasons for Decision in the matter of Hongjia Liu
TORONTO, July 11, 2025 /CNW/ – Following a settlement hearing held on June 18, 2025 pursuant to the Investment Dealer and Partially Consolidated Rules, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) issued its reasons for decision in the matter of Hongjia Liu on June 27, 2025.
The hearing panel’s reasons for decision are available at:
In their reasons for decision, the hearing panel found that Hongjia Liu engaged in discretionary trading in the futures accounts of certain clients. The hearing panel confirmed a fine of $75,000, disgorgement of $225,000 and a six-month suspension from acting in a registered capacity imposed on Hongjia Liu as part of the settlement with CIRO Enforcement.
Hongjia Liu will also pay costs of $15,000.
At all material times, Hongjia Liu conducted business in the Vancouver, British Columbia area as a Registered Representative with RBC Dominion Securities Inc. Hongjia Liu is currently not registered in the securities industry in any capacity.
The Canadian Investment Regulatory Organization (CIRO) is the national 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.
SOURCE Canadian Investment Regulatory Organization (CIRO)
