A former Edmonton-area mutual fund dealing consultant has been completely barred from the Canadian securities trade and ordered to pay greater than $267,000 in fines and prices following a disciplinary listening to by CIRO.
Following a listening to held on February 10, 2026, a listening to panel of CIRO below the Mutual Fund Seller Guidelines discovered that Lou Albert Cruz Soco misappropriated or did not account for monies obtained from shoppers, engaged in private monetary dealings with shoppers that gave rise to conflicts of curiosity which he did not disclose or correctly handle, and did not cooperate with CIRO workers’s investigation.
Soco has been handed a everlasting prohibition from conducting securities-related enterprise with any CIRO Seller Member, disgorgement within the quantity of $217,950, an extra advantageous of $217,950 for misappropriation of shopper funds and private monetary dealings with shoppers, and a advantageous of $50,000 for failing to cooperate with CIRO’s investigation. Soco was additionally required to pay prices of $32,167.25.
