TORONTO, Sept. 28, 2022 /CNW/ – A Hearing Panel of the Pacific Regional Council of the Mutual Fund Dealers Association of Canada (the “MFDA”) has issued its Reasons for Decision dated September 22, 2022 (“Reasons for Decision”), in connection with a settlement hearing held electronically by videoconference in Vancouver, British Columbia on August 25, 2022, in the matter of Jerry Bo Song (the “Respondent”).
In its Reasons for Decision, the Hearing Panel confirmed the sanctions imposed on the Respondent. In particular, the Respondent:
- has been suspended from acting as a branch manager or in any supervisory capacity for a Member of the MFDA for a period of four months; expiring December 25, 2022;
- has paid a fine of $9,000;
- has paid costs of $5,000;
- shall successfully complete the branch manager’s course offered by the Investment Funds Institute of Canada, the Investment Dealer Supervisors Course offered by the Canadian Securities Institute, or another industry course that is acceptable to Staff of the MFDA prior to acting as a branch manager or in any supervisory capacity in the future; and
- shall in the future comply with MFDA Rules 2.5.5(f) and 2.1.1.
A copy of the Reasons for Decision are available on the MFDA website at www.mfda.ca. During the period described in the Reasons for Decision, the Respondent conducted business in the Richmond, British Columbia 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 76,695 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
Source link
The content is by PR Newswire. Headlines of Today Media is not responsible for the content provided or any links related to this content. Headlines of Today Media is not responsible for the correctness, topicality or the quality of the content.
