MFDA Hearing Panel accepts Settlement Agreement with Angie Lau

TORONTO, Dec. 10, 2013 /CNW/ - A Settlement Hearing in the matter Angie Sau Chu Lau (the "Respondent") was held today in Toronto, Ontario before a three-person Hearing Panel of the MFDA's Central Regional Council.

The Hearing Panel accepted the Settlement Agreement between MFDA Staff and the Respondent, as a consequence of which the Respondent has paid a fine of $2,500 and $2,500 in costs. In the Settlement Agreement, the Respondent admitted that on or about October 6, 2011, she paid compensation directly to client MS to settle the client's complaint, without obtaining the prior written consent of the Member, contrary to MFDA Policy No. 3 and MFDA Rule 2.1.1(a).

The Hearing Panel advised that it will issue written reasons for its decision in due course. A copy of the Settlement Agreement is available on the MFDA website at www.mfda.ca.

The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 113 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

For further information:

Hugh Corbett
Managing Director, Enforcement
416-943-4685
hcorbett@mfda.ca