TORONTO, May 13, 2013 /CNW/ - A disciplinary hearing in the matter of
Leslie Duncan McIntosh (the "Respondent") was held today in Calgary,
Alberta before a Hearing Panel of the MFDA's Prairie Regional Council.
Following submissions from MFDA counsel, the Hearing Panel found that
the allegations set out in the Notice of Hearing dated November 9, 2012
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 $1.6 million in relation to Allegations #1 and #2 in the
Notice of Hearing;
a fine of $50,000 in relation to Allegation #3 in the Notice of Hearing;
costs of $10,000.
A copy of the Notice of Hearing is available on the MFDA website at www.mfda.ca. The Hearing Panel advised that it will issue written reasons for its
decision in due course.
The MFDA is the self-regulatory organization for Canadian mutual fund
dealers, regulating the operations, standards of practice and business
conduct of its 116 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:
Director of Litigation
Vice-President, Prairie Region