CIRO to Hold a Sanctions Hearing for Louis Josh Lieff

Toronto (ON), October 7, 2025 - A disciplinary hearing originally scheduled for November 4-7, 2025, before a hearing panel of the Canadian Investment Regulatory Organization (CIRO) pursuant to the Mutual Fund Dealer Rules in the matter of Louis Josh Lieff has now been converted to a one-day Sanctions hearing. The hearing is to determine the appropriate penalty to impose based on the Agreed Statement of Facts between CIRO Enforcement Staff and Louis Lieff.

The hearing is open to the public unless the panel orders otherwise. The decision of the hearing panel will be made available at https://www.ciro.ca.

Hearing Dates: November 6, 2025 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 form.

The hearing concerns allegations that Louis Lieff:

1. engaged in securities related business outside the Dealer Member by recommending, selling, or facilitating investments in the purchase and resale of used vehicles, and
2. engaged in unapproved outside activities in relation to facilitating investments in the purchase and resale of used vehicles.

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

Lieff, Louis - Notice of Hearing and Statement of Allegations

The alleged violations occurred while Louis Lieff was a Registered Representative with Quadrus Investment Services Ltd. in Concord, Ontario. Louis Lieff is not currently registered in the securities industry in any capacity.