Decision Notice – CIRO Hearing Panel issues Reasons for Decision in the Matter of Yi Cun (Harry) Liu
VANCOUVER, BC, Nov. 4, 2026 /CNW/ — Following a disciplinary hearing held on August 4, 2026, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) under the Investment Dealer and Partially Consolidated Rules found that Yi Cun (Harry) Liu (the Respondent):
(a) engaged in conduct that was unbecoming or detrimental to the public interest,
(b) entered into personal financial dealings with a client by borrowing approximately $110,640 without the knowledge or consent of his firm; and
(c) failed to cooperate with the investigation conducted by CIRO Enforcement staff.
The hearing panel imposed the following sanctions on the Respondent:
(a) permanent prohibition from approval with CIRO and from employment by regulated persons in any capacity;
(b) disgorgement of $442,030, representing the amount the Respondent obtained by theft and fraud;
(c) a global fine of $500,000, representing:
(i) $450,000 for breaching CIRO’s standards of conduct and engaging in unauthorized personal financial dealings with the client; and
(ii) $50,000 for failing to cooperate with the investigation.
The Respondent is also required to pay costs in the amount of $50,000.
The hearing panel’s decision, dated October 26, is available at:
The violations occurred while the Respondent was a Registered Representative with Ventum Financial Corp. in the Vancouver, British Columbia area. The Respondent 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)
