TORONTO, July 3, 2013 /CNW/ - A disciplinary hearing in the matter of
Daniel Lipovetsky (the "Respondent") was held today in Toronto, Ontario
before a Hearing Panel of the MFDA's Central Regional Council.
Following submissions from MFDA counsel, the Hearing Panel found that
the allegations set out in the Notice of Hearing dated April 5, 2013
had been established and imposed the following sanctions and costs on
the Respondent at the conclusion of the hearing:
a permanent prohibition from conducting securities related business in
any capacity while in the employ of, or associated with, any MFDA
a fine of $30,000 with respect to Allegations # 1 and 2;
a fine of $50,000 with respect to Allegation # 3; and
costs of $7,500.
The Hearing Panel advised that it will issue written reasons for its
decision in due course. 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 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 Canada
For further information:
Managing Director, Enforcement