EDMONTON, AB, April 15, 2026 /CNW/ - Following a hearing held on February 10, 2026, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) under the Mutual Fund Dealer Rules found that Lou Albert Cruz Soco:

(a) misappropriated or failed to account for monies obtained from clients,

(b) engaged in personal financial dealings with clients that gave rise to conflicts of interest which he failed to disclose or properly address, and

(c) failed to cooperate with CIRO Staff's investigation.

The hearing panel imposed the following sanctions on Lou Soco:

(a) a permanent prohibition from conducting securities-related business with any CIRO Dealer Member,

(b) disgorgement in the amount of $217,950,

(c) a fine of $217,950 for misappropriation of client funds and personal financial dealings with clients, and

(d) a fine of $50,000 for failing to cooperate with CIRO's investigation.

Lou Soco is also required to pay costs in the amount of $32,167.25.

The hearing panel's decision dated April 7, 2026, is available at:

Re Soco 2026 CIRO 11

The violations occurred while Lou Soco was a Registered Dealing Representative with PFSL Investments Canada Ltd. in the Edmonton, Alberta area. Lou Soco is not currently registered in the securities industry in any capacity.

The Canadian Investment Regulatory Organization (CIRO) is the pan-Canadian self-regulatory organization that oversees all investment dealers, mutual fund dealers and trading activity on Canada's debt and equity marketplaces. CIRO is committed to the protection of investors, providing efficient and consistent regulation, and building Canadians' trust in financial regulation and the people managing their investments. For more information, visit www.ciro.ca.

All information about disciplinary proceedings relating to current and former member firms and individual registrants under the Investment Dealer and Partially Consolidated Rules (for investment dealers), the Mutual Fund Dealer Rules (for mutual fund dealers) and the Universal Market Integrity Rules (UMIR) is available on CIRO's website.

Background information regarding the qualifications and disciplinary history, if any, of advisors currently employed by CIRO-regulated investment firms is available free of charge through the AdvisorReport service. Information on how to make dealer, advisor or marketplace-related complaints is available by calling 1-877-442-4322.

CIRO investigates possible misconduct by its member firms and individual registrants. It can bring disciplinary proceedings which may result in sanctions including fines, suspensions, permanent bars, expulsion from membership, or termination of rights and privileges for individuals and firms.

All other Inquiries: Complaints & Inquiries
                                 Secure form
                                 Toll-free (Canada/US) 1-877-442-4322

SOURCE Canadian Investment Regulatory Organization (CIRO)