TORONTO, July 4, 2022 /CNW/ – A Hearing Panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada (the “MFDA”) has issued its Reasons for Decision d ated June 29, 2022 (“Reasons for Decision”), in connection with a settlement hearing held electronically by videoconference in Toronto
In its Reasons for Decision, the Hearing Panel confirmed the sanctions imposed on the Respondent. In particular, the Respondent:
- has paid costs of $5,000;
- shall pay a fine in the amount of $12,500, in instalments as follows:
- paid $4,166.67 on May 31, 2022;
- paid $4,166.67 on June 30, 2022;
- $4,166.67 on or before July 29, 2022; and
- shall in the future comply with MFDA Rules 2.1.4, 2.1.1, 2.5.1 and 1.1.2.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its Members and their approximately 80,000 Approved Persons with a mandate to protect investors and the public interest. For more information about the MFDA’s complaint and enforcement processes, as well as links to ‘Check an Advisor’ and other Investor Tools, visit the For Investors page on the MFDA website.
SOURCE Mutual Fund Dealers Association of Canada
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