CIRO - Canadian Investment Regulatory Organization
CIRO - Canadian Investment Regulatory Organization
01/09/2026 | Press release | Distributed by Public on 01/09/2026 10:20
A CIRO Hearing Panel sanctions Louis Josh Lieff
Toronto (Ontario) January 9, 2026 - Following a sanctions hearing held on November 6, 2025, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) under the Investment Dealer and Partially Consolidated Rules imposed the following sanctions on Louis Josh Lieff:
- a permanent prohibition from conducting securities-related business while in the employ of or associated with any Dealer Member of CIRO,
- disgorgement of $238,073, and
- a fine of $200,000.
Louis Lieff is also required to pay $15,000 in costs.
In an agreed statement of facts, Louis Lieff admitted to engaging in a securities-related business outside the Dealer Member by soliciting investors and facilitating investments in the purchase and resale of used vehicles business.
The hearing panel's decision dated December 16, 2025, is available at:
The violations occurred while Louis Lieff was a Registered Representative with Quadrus Investment Services Ltd. in Concord, Ontario. Louis Lieff is not currently registered in the securities industry in any capacity.
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