MFDA Hearing Panel makes findings against Alain Theroux
TORONTO, Oct. 21, 2013 /CNW/ - A disciplinary hearing in the matter of Alain Armand Joseph Theroux (the "Respondent") was held today in Toronto, Ontario before a three-person Hearing Panel of the MFDA's Central Regional Council.
Following submissions from MFDA counsel, the Hearing Panel found that the allegation set out in the Notice of Hearing dated May 7, 2013 had been established, imposed the following penalties and costs on the Respondent, and advised that it will issue written reasons for its decision in due course:
- a permanent prohibition on the authority of the Respondent to conduct securities related business in any capacity while in the employ of or associated with any MFDA Member;
- a $50,000 fine; and
- $7,500 in costs.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 115 Members and their approximately 80,000 Approved Persons with a mandate to protect investors and the public interest.
SOURCE Mutual Fund Dealers Association of CanadaFor further information:
Managing Director, Enforcement