An appeal by a former Winnipeg mutual fund consultant who was fined more than $300,000 by Canada's investment regulator for running unauthorized outside businesses and misleading his employer about it for more than a decade has been dismissed by the Manitoba Securities Commission.

A Manitoba Securities Commission decision dated Nov. 24 rejected Andrew Kazina's appeal of an initial 2023 decision by the Canadian Investment Regulatory Organization.

It found Kazina, who had worked with Investors Group Financial Services in Manitoba as a mutual fund sales consultant between 1992 and 2017, breached the conflict of interest rules of the Canadian organization, a self-regulatory body that oversees investment and mutual fund dealers.

According to that decision, the panel found Kazina did

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