TORONTO, Sept. 12, 2011 /CNW/ - A disciplinary hearing in the matter of David Allan Vitch (the
"Respondent") was held today in Toronto, Ontario before a three-person
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 February 24, 2011. 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's authority to conduct securities related business in any
capacity over which the MFDA has jurisdiction shall be permanently
The Respondent shall pay a fine in the amount of $50,000; and
The Respondent shall pay costs of this proceeding to the MFDA in the
amount of $5,000.
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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