TORONTO, July 31, 2012 /CNW/ - A Settlement Hearing in the matter of
Ahsan Hanif Ladha (the "Respondent") was held today in Calgary, Alberta
before a Hearing Panel of the MFDA's Prairie Regional Council.
The Hearing Panel approved the Settlement Agreement between MFDA Staff
and the Respondent, as a consequence of which the Respondent:
is prohibited from conducting securities related business while in the
employ of, or associated with, any MFDA Member for 24 months;
has paid costs in the amount of $2,500; and
shall in the future comply with all MFDA By-laws, Rules and Policies,
and all applicable securities legislation and regulations made
thereunder, including MFDA Rule 1.1.1.
In the Settlement Agreement, the Respondent admitted that between June
2009 and June 2010, he engaged in securities related business that was
not carried on for the account and through the facilities of the Member
by giving investment advice in relation to, and making trades in,
equity securities in the on-line discount brokerage accounts of client
MM and individual JB, contrary to MFDA Rule 1.1.1.
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 121 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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