CIRO Sanctions Joseph Debus

Toronto (Ontario), November 1, 2024 – Following a sanctions hearing held on September 19, 2024 pursuant to the Investment Dealer and Partially Consolidated Rules, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) imposed the following sanctions on Joseph Debus:

1. a suspension from approval and registration with CIRO for 18 months,
2. a fine of $150,000,
3. a bar from applying for approval or registration with CIRO unless and until all outstanding fines and costs are paid in full, including the sanctions and costs imposed in the prior proceeding,
4. a requirement to re-write the Conduct and Practice Handbook examination, and all other courses required to qualify as a Registered Representative and/or Portfolio Manager within six months of an application for approval or registration with CIRO.

Joseph Debus is also required to pay costs in the amount of $20,000.

The sanctions decision can be found at:

Re Debus 2024 CIRO 74

In an earlier decision, dated August 1, 2024, the hearing panel found that Joseph Debus:

1. failed to identify and address a material conflict of interest,
2. violated the terms of his strict supervision by not bringing transactions for his Dealer Member’s approval, and
3. facilitated off-book transactions without the knowledge or approval of his Dealer Member.

The hearing panel’s liability decision is available at: Re Debus 2024 CIRO 65.

The violations occurred while Joseph Debus was a Registered Representative with Echelon Wealth Partners Inc. Joseph Debus is not currently employed in the investment industry.