TORONTO, Sept. 15, 2011 /CNW/ - A disciplinary hearing in the matter of Carmel Toussaint (the
"Respondent") was held today in Toronto, Ontario before a three-member
Hearing Panel of the MFDA's Central Regional Council.
An Agreed Statement of Facts was filed prior to the hearing in which the
Respondent admitted to all the facts and allegations set out in the
Notice of Hearing dated December 22, 2010. The Hearing Panel made the
following orders at the conclusion of the hearing and advised that it
would issue written reasons for its decision in due course:
the Respondent is permanently prohibited from conducting any securities
related business in any capacity while in the employ of or associated
with any MFDA Member;
the Respondent shall pay a fine in the amount of $10,000; and
the Respondent shall pay costs in the amount of $2,500.
A copy of the Notice of Hearing 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 132 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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