TORONTO, April 10, 2026 /CNW/ - Following a settlement hearing held on March 3, 2026 pursuant to the Investment Dealer and Partially Consolidated Rules, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) issued its reasons for decision on March 18, 2026.

The hearing panel's reasons for decision are available at:

Re National Bank Financial 2026 CIRO 09

In their reasons for decision, the hearing panel found that NBF failed to adequately supervise a Registered Representative with respect to note-taking and suitability. In accordance with the settlement agreement, the panel confirmed the fine of $1,000,000 and costs of $50,000 imposed on NBF.

NBF is a CIRO-registered investment dealer.

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)