TORONTO, June 28 /CNW/ - A disciplinary hearing in the Matter of Robert
Brick was held today before a Hearing Panel of the Central Regional Council of
the Mutual Fund Dealers Association of Canada ("MFDA") in Toronto, Ontario.
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
(a) The Respondent is permanently prohibited from conducting securities-
related business in any capacity while in the employ of, or
associated with, any MFDA Member from the date of this Order,
pursuant to section 24.1.1(e) of MFDA By-Law No. 1;
(b) The Respondent shall pay a fine in the amount of $219,000, for
failing to deal with clients fairly, honestly and in good faith,
pursuant to section 24.1.1(b) of MFDA By-Law No. 1;
(c) The Respondent shall pay a fine in the amount of $50,000, for failing
to cooperate with an investigation, pursuant to section 24.1.1(b) of
MFDA By-Law No. 1; and
(d) The Respondent shall pay costs in the amount of $7,500 for the
investigation and prosecution of this matter, pursuant to section
24.2 of MFDA By-Law No. 1.
A copy of the Notice of Hearing and the Order are available on the MFDA
web site at www.mfda.ca.
The Mutual Fund Dealers Association of Canada is the self-regulatory
organization for Canadian mutual fund dealers. The MFDA regulates the
operations, standards of practice and business conduct of its 162 Members and
their approximately 75,000 Approved Persons with a mandate to protect
investors and the public interest.
For further information:
For further information: Shaun Devlin, Vice-President, Enforcement,
(416) 943-4672 or email@example.com