On August 14, 2025, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) held a hearing pursuant to the Mutual Fund Dealer Rules and accepted a settlement agreement, with sanctions, between Enforcement Staff and Mohammed (Hamoudi) Dakik.
Mohammed Dakik admitted to engaging in securities related business that was not carried on for the account or through the facilities of the Dealer Member by recommending, selling, or facilitating the sale of securities of a company to clients and other individuals.
Pursuant to the settlement agreement, Mohammed Dakik agreed to a permanent prohibition from conducting securities related business in any capacity while in the employ of or associated with any CIRO Dealer Member, pay a fine of $20,000 and costs of $5,000.
Dakik, Mohammed – Settlement Agreement
The hearing panel's decision will be made available at www.ciro.ca.
The violations occurred while Mohammed Dakik was registered as a Dealing Representative with Investors Group Financial Services Inc. in the Nepean, Ontario area. Mohammed Dakik is not currently registered in the securities industry in any capacity.
The Canadian Investment Regulatory Organization (CIRO) is the national 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 theInvestment Dealer and Partially Consolidated Rules(for investment dealers), theMutual Fund Dealer Rules(for mutual fund dealers) and theUniversal Market Integrity Rules(UMIR) is available onCIRO'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 AdvisorReportservice. 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.
SOURCE Canadian Investment Regulatory Organization (CIRO)
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