IIROC fines, suspends former rep for altering exam transcript

Following a disciplinary hearing held on June 22, 2016, in Toronto, Ontario, a hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) found that Rizwan Suleiman altered a document and provided it to his Dealer Member firm.

Read the hearing panel’s Reasons and Decision, dated June 22, 2016.

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

• On or about July 2015, Suleiman altered an examination transcript relating to a securities industry course and provided the false transcript to his Dealer Member firm, contrary to IIROC Dealer Member Rule 29.1.

The hearing panel imposed the following penalties on Suleiman:

• a six-month suspension from registration;
• a fine of $30,000; and
• a requirement to re-write the Conduct and Practices Handbook and Partners, Directors and Officers Examinations within 12 months of any re-registration.

Suleiman is also required to pay costs in the amount of $5,000.

IIROC formally initiated the investigation into Suleiman’s conduct in August 2015. The violation occurred while he was a Registered Representative with ITG Canada Corp., an IIROC regulated firm. Suleiman is no longer a registrant with an IIROC regulated firm.

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