The Canadian Investment Regulatory Organization (CIRO) has announced sanctions against Sanjeev Kumar Tejpal following a settlement agreement approved on May 21, 2026. The hearing panel, operating under the Mutual Fund Dealer Rules, accepted the agreement between Enforcement Staff and Tejpal, which includes a fine of $20,000 and costs of $5,000.
Tejpal admitted to failing to ensure that mutual fund purchases subject to a deferred sales charge schedule, which he recommended and processed for a client, were suitable for that client. The misconduct occurred while Tejpal was a Registered Representative with WFG Securities Inc. in Surrey, British Columbia, where he remains currently registered.
The settlement agreement is publicly available on CIRO's website. CIRO, as the pan-Canadian self-regulatory organization, oversees investment dealers, mutual fund dealers, and trading activity on Canada's debt and equity marketplaces. It is dedicated to investor protection, efficient regulation, and building public trust in financial regulation.
CIRO investigates potential misconduct by its member firms and individual registrants. Disciplinary proceedings can result in sanctions such as fines, suspensions, permanent bans, or expulsion from membership. Information on disciplinary actions is accessible via CIRO's website, and background on advisors is available through the AdvisorReport service.
