The Canadian Investment Regulatory Organization has imposed a series of sanctions on Calogero “Charlie” Alaimo following a penalty hearing held in March, barring him from working in securities-related business with any CIRO dealer member for 18 months and ordering him to pay financial penalties and costs.
According to CIRO’s decision notice dated April 16, 2026, the sanctions include an 18-month prohibition from conducting securities-related business in any capacity while in the employ of, or associated with, any dealer member of the self-regulatory body. The hearing panel also ordered disgorgement of $14,314, imposed a fine of $30,000, and required Alaimo to pay $10,000 in costs. The case falls under the Mutual Fund Dealer Rules.
The sanctions follow an earlier decision issued on January 12, 2026, in which a CIRO hearing panel found that Alaimo had failed to ensure that an investment strategy he recommended and implemented for a client was suitable based on the essential facts related to that client. The regulator said the misconduct occurred while Alaimo was registered as a dealing representative with Royal Mutual Funds Inc. in the Vaughan, Ont., area. CIRO noted that Alaimo is not currently registered in the securities industry in any capacity.