TORONTO, April 28 /CNW/ - A Settlement Hearing in the matter of Laurier Capital Planning Inc.
(the "Respondent") was held yesterday in Calgary, Alberta before a
Hearing Panel of the MFDA's Prairie Regional Council.
After hearing submissions from counsel, the Hearing Panel accepted the
Settlement Agreement between MFDA Staff and the Respondent, as a
consequence of which the Respondent has paid a fine in the amount of
$7,500 and costs in the amount of $2,500.
In the Settlement Agreement, the Respondent admitted that from January
24, 2008 to May 15, 2008, it failed to ensure that tier-one and
tier-two supervision was adequately established, implemented and
maintained, contrary to MFDA Rules 2.1.1, 2.2.1, 2.5 and MFDA Policy
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 136 Members and their approximately 75,000 Approved
Persons with a mandate to protect investors and the public interest.
SOURCE Mutual Fund Dealers Association of Canada
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