TORONTO, June 29, 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 dated June 23, 2022 (“Reasons for Decision”), in connection with a settlement hearing held electronically by videoconference in Toronto, Ontario on May 17, 2022, in the matter of Anthony Peter Chiaravalloti (the “Respondent”).
In its Reasons for Decision, the Hearing Panel confirmed the sanctions imposed on the Respondent. In particular, the Respondent:
- has been prohibited from conducting securities related business in any capacity while in the employ of or in association with a Member of the MFDA for three years, commencing May 17, 2022;
- has paid costs of $5,000 on May 17, 2022;
- a fine in the amount of $15,000, payable in instalments as follows:
- has paid $5,000 on May 17, 2022;
- $1,000 on or before July 29, 2022;
- $1,000 on or before August 31, 2022;
- $1,000 on or before September 30, 2022;
- $1,000 on or before October 31, 2022;
- $1,000 on or before November 30, 2022;
- $1,000 on or before December 30, 2022
- $1,000 on or before January 31, 2023;
- $1,000 on or before February 28, 2023;
- $1,000 on or before March 31, 2023;
- $1,000 on or before April 28, 2023; and
- shall in the future comply with MFDA Rules 2.4.2, 1.3.2, 1.2.5, 2.1.1, 2.5.1, and 1.1.2.
A copy of the Reasons for Decision is available on the MFDA website at www.mfda.ca. During the period described in the Reasons for Decision, the Respondent carried on business in the Vaughan, Ontario area.
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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