Decision record
Faiyaz Ahmad Dean
Allegation / charges
Rule 4-29 Admission of Misconduct and Undertaking to the Discipline Committee
Findings — machine-extracted (anthropic-batch:claude-opus-4-8); verify against the decision
Faiyaz A. Dean admitted professional misconduct under Rule 4-29 in relation to a June 2021 citation, including misuse of his firm's trust account without providing legal services or making reasonable inquiries, failure to comply with client ID/verification requirements, and engaging in activities he ought to have known assisted in or encouraged dishonesty, crime or fraud (a securities pump-and-dump scheme). Although the misconduct related to fraud that he 'ought to have known' he was facilitating, no express finding of personal dishonesty was made. He undertook an eight-year prohibition on practising law (plus prior non-practising status since Jan 1, 2020, totalling an effective 12-year ban), with any reinstatement subject to a mandatory credentials hearing. No fine or costs were stated.
Duties found breached:
Aggravating factors:
- Conduct facilitated a fraudulent securities scheme; SEC default judgment with permanent market prohibition and civil penalty
- BC Securities Commission permanent market prohibitions
- US indictment in District of Arizona for conspiracy to commit securities fraud, wire fraud, and money laundering
- Multiple clients and transactions over an extended period
- Numerous ignored objectively suspicious circumstances
Mitigating factors:
- Admission of professional misconduct under Rule 4-29
- Cooperation via Agreed Statement of Facts
- Voluntary non-practising status since January 1, 2020 during investigation
- Self-reported the Arizona indictment to the Law Society
⚠ figures not found verbatim in the source were dropped: ["review_dishonesty_finding_cue_present"]