VANCOUVER, BC, July 10, 2026 /CNW/ – Following a settlement hearing held on May 21, 2026 pursuant to the Mutual Fund Dealer Rules, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) issued its reasons for decision in the matter of Sanjeev Kumar Tejpal.
The hearing panel’s reasons for decision dated June 9, 2026 are available at:
In their reasons for decision, the hearing panel found that Sanjeev Tejpal failed to ensure that mutual fund purchases subject to a deferred sales charge schedule that he recommended to and processed for a client were suitable for the client.
In accordance with the settlement agreement, the panel confirmed the fine of $20,000 and costs of $5,000 imposed on Sanjeev Tejpal.
The conduct occurred while Sanjeev Tejpal was a Registered Representative with WFG Securities Inc. in the Surrey, British Columbia area, where he currently remains registered.
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)