Latest news with #StephenBurns
Cision Canada
06-08-2025
- Business
- Cision Canada
Decision Notice - CIRO Hearing Panel issues Reasons for Decision in the matter of Echelon Wealth Partners and Stephen Burns Français
TORONTO, Aug. 6, 2025 /CNW/ - Following a settlement hearing between CIRO Enforcement Staff, Echelon Wealth Partners Inc. (Echelon), now known as Ventum Financial Corp. (Ventum), and Stephen Burns, held on June 25, 2025 pursuant to the Investment Dealer and Partially Consolidated Rules, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) issued its reasons for decision on July 30, 2025. The hearing panel found that: Echelon: (a) failed to use due diligence to learn and remain informed of the essential facts relative to the accounts and orders of four foreign broker-dealers, (b) failed to act as a gatekeeper in relation to the trading activity in US Over-the-Counter (OTC) securities by the foreign broker-dealers, and (c) failed to establish, maintain, and enforce an adequate system of controls and supervision in relation to the US OTC trading. Stephen Burns: (a) failed to use due diligence to learn and remain informed of the essential facts relative to the accounts and orders of four foreign broker-dealers, and (b) failed to act as a gatekeeper in relation to the trading activity in US OTC securities by the foreign broker-dealers. Pursuant to the settlement agreement, the hearing panel agreed to the following sanctions: Ventum: (a) pay a fine of $500,000, (b) disgorge $1,700,000, (c) implement certain remedial measures, and (d) pay costs of $100,000. Stephen Burns: (a) pay a fine of $100,000, (b) be subject to a suspension of approval in any capacity for six (6) months, and (c) pay costs of $25,000. The hearing panel's reasons for decision are available at: Re Echelon & Burns 2025 CIRO 38 The violations occurred while Stephen Burns was a Registered Representative with Echelon. Stephen Burns is currently registered with Independent Trading Group Inc. Echelon has been a Dealer Member with CIRO and its predecessors since April 8, 2010 and amalgamated with Ventum in June 2024. The Canadian Investment Regulatory Organization (CIRO) is the national 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 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. SOURCE Canadian Investment Regulatory Organization (CIRO)
Cision Canada
02-07-2025
- Business
- Cision Canada
Decision Notice - CIRO Sanctions Echelon Wealth Partners and Stephen Burns Français
TORONTO, July 2, 2025 /CNW/ - On June 25, 2025, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) held a hearing pursuant to the Investment Dealer and Partially Consolidated Rules and accepted a settlement agreement, with sanctions, between CIRO Enforcement Staff, Echelon Wealth Partners Inc. (Echelon), now known as Ventum Financial Corp. (Ventum), and Stephen Burns. Echelon admitted to: (a) failing to use due diligence to learn and remain informed of the essential facts relative to the accounts and orders of four foreign broker-dealers, (b) failing to act as a gatekeeper in relation to the trading activity in U.S. Over-the-Counter (OTC) securities by the foreign broker-dealers, and (c) failing to establish, maintain, and enforce an adequate system of controls and supervision in relation to the U.S. OTC trading. Stephen Burns admitted to: (a) failing to use due diligence to learn and remain informed of the essential facts relative to the accounts and orders of four foreign broker-dealers, and (b) failing to act as a gatekeeper in relation to the trading activity in U.S. OTC securities by the foreign broker-dealers. Pursuant to the settlement agreement, Echelon/Ventum agreed to: (a) pay a fine of $500,000, (b) disgorge $1,700,000, (c) implement certain remedial measures, and (d) pay costs of $100,000. Stephen Burns agreed to: (a) pay a fine of $100,000, (b) be subject to a suspension of approval in any capacity for six (6) months, and (c) pay costs of $25,000. The Settlement Agreement is available at: The hearing panel's decision will be made available at The alleged violations occurred while Stephen Burns was a Registered Representative with Echelon. Stephen Burns is currently registered with Independent Trading Group Inc. Echelon has been a Dealer Member with CIRO and its predecessors since April 8, 2010 and amalgamated with Ventum in June 2024. The Canadian Investment Regulatory Organization (CIRO) is the national 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 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.
Cision Canada
13-06-2025
- Business
- Cision Canada
Hearing Notice - CIRO to Hold a Settlement Hearing for Echelon Wealth Partners and Stephen Burns Français
TORONTO, June 13, 2025 /CNW/ - A hearing has been scheduled before a hearing panel of the Canadian Investment Regulatory Organization (CIRO) pursuant to the Investment Dealer and Partially Consolidated Rules to consider a settlement agreement between CIRO Enforcement Staff and Echelon Wealth Partners (Echelon) and Stephen Burns. The hearing will become open to the public if the panel accepts the settlement agreement. If the settlement agreement is accepted, the panel's decision and the settlement agreement will be made available at Settlement Hearing Date: June 25, 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 Notice of Motion announcing the settlement hearing is available at: Echelon Wealth Partners Inc. and Stephen Burns - Notice of Motion The alleged violations occurred while Stephen Burns was a Registered Representative with Echelon, where he is still employed in a registered capacity. Echelon has been a Dealer Member with CIRO and its predecessor since April 8, 2010. The Canadian Investment Regulatory Organization (CIRO) is the national 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 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.
Leader Live
29-05-2025
- Business
- Leader Live
Warm weather knocks Hollywood Bowl sales
The firm said it suffered a 'short-term' hit to its UK bowling chain between March and May as Britain basked in the sunniest spring on record. But the group said it remained 'confident' on its outlook for the final six months of the year thanks to action to offset the weather knock and kept its full-year earnings guidance unchanged. Stephen Burns, chief executive of Hollywood Bowl, said: 'The prolonged period of unprecedented dry and warm weather from March to May has had a short-term impact on trading. 'However, we've responded quickly, managing margins and costs while maintaining strong operational performance, which remains as good as it's ever been. 'Looking ahead, we're well positioned for the key summer holiday period.' The group said drier weather earlier in the year – between February and late March – played a part in a fall in the number of bowling game bookings during its first half to March 31, down 4.5% in the UK on a like-for-like basis. The fall was also driven by the timing of Easter and last year's leap year, which gave an extra day of trading, 'as well as the continuing competition from new competitive socialising offerings opening in certain locations', it said. But it said spend per game rose, helping increase total UK like-for-like revenues by 1.3% in the half-year, with sales in bowling centres up 1.5%. Pre-tax profits fell 9.4% to £28 million on an underlying basis in the six months to March 31 as costs also rose in the UK. It saw its wage bill jump by £2.6 million to £24.9 million after minimum wage increases
North Wales Chronicle
29-05-2025
- Business
- North Wales Chronicle
Warm weather knocks Hollywood Bowl sales
The firm said it suffered a 'short-term' hit to its UK bowling chain between March and May as Britain basked in the sunniest spring on record. But the group said it remained 'confident' on its outlook for the final six months of the year thanks to action to offset the weather knock and kept its full-year earnings guidance unchanged. Stephen Burns, chief executive of Hollywood Bowl, said: 'The prolonged period of unprecedented dry and warm weather from March to May has had a short-term impact on trading. 'However, we've responded quickly, managing margins and costs while maintaining strong operational performance, which remains as good as it's ever been. 'Looking ahead, we're well positioned for the key summer holiday period.' The group said drier weather earlier in the year – between February and late March – played a part in a fall in the number of bowling game bookings during its first half to March 31, down 4.5% in the UK on a like-for-like basis. The fall was also driven by the timing of Easter and last year's leap year, which gave an extra day of trading, 'as well as the continuing competition from new competitive socialising offerings opening in certain locations', it said. But it said spend per game rose, helping increase total UK like-for-like revenues by 1.3% in the half-year, with sales in bowling centres up 1.5%. Pre-tax profits fell 9.4% to £28 million on an underlying basis in the six months to March 31 as costs also rose in the UK. It saw its wage bill jump by £2.6 million to £24.9 million after minimum wage increases
