CIRO Hearing Panel issues Reasons for Decision in the matter of Mohammed (Hamoudi) Dakik

Toronto (Ontario), September 18, 2025 - Following a settlement hearing held on August 14, 2025 pursuant to the Mutual Fund Dealer Rules, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) issued its reasons for decision on September 5, 2025.

The hearing panel's reasons for decision are available at:

Re Dakik 2025 CIRO 46

In their reasons for decision, the hearing panel held that Mohammed (Hamoudi) Dakik engaged 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.

The hearing panel also confirmed a permanent prohibition from conducting securities related business in any capacity while in the employ of or associated with any CIRO Dealer Member, a fine of $20,000, and costs of $5,000 imposed on Mohammed Dakik as part of the settlement.

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.