IN THE MATTER OF Echelon Wealth Partners and Stephen Burns – Motion Hearing 

Toronto (Ontario), October 4, 2024 – The Respondents in the matter of Echelon Wealth Partners (Echelon) and Stephen Burns brought motions for further disclosure and particulars pursuant to the Investment Dealer and Partially Consolidated Rules, which are scheduled to proceed before a hearing panel of the Canadian Investment Regulatory Organization (CIRO).

The motions are open to the public unless the hearing panel orders otherwise. The decision of the hearing panel will be made available at www.ciro.ca.

Motion Date: November 1, 2024 at 10:00 a.m. (Eastern Time)

Location: Toronto, Ontario (by videoconference)

Members of the public, who would like to obtain further particulars, should fill out this questionnaire.

The motions relate to a disciplinary proceeding initiated by CIRO Enforcement against Echelon and Stephen Burns.

The hearing concerns the allegations that Echelon and Stephen Burns:

1. failed to use due diligence to learn and remain informed of the essential facts relative to the accounts and orders of four foreign broker-dealers,
2. failed to act as gatekeepers in relation to the trading activity in US Over-the-Counter (OTC) securities by the foreign broker-dealers, and
3. failed to establish, maintain, and enforce an adequate system of controls and supervision in relation to US OTC trading.

The Notice of Hearing and Statement of Allegations, which sets out the allegations, are available at:

Echelon Wealth Partners Inc. and Stephen Burns – Notice of Hearing and Statement of Allegations

The alleged contraventions occurred while Stephen Burns was a Registered Representative with Echelon, where he is still employed in a registered capacity. Echelon has been a Dealer Member with CIRO and its predecessors since April 8, 2010.