TORONTO, Jan. 23, 2013 /CNW/ - A Settlement Hearing in the matter of Keith Kee-Peng Tan (the
"Respondent") was held yesterday in Toronto, Ontario before a Hearing
Panel of the MFDA's Central Regional Council. The Hearing Panel
accepted the Settlement Agreement between MFDA Staff and the
Respondent, as a consequence of which the Respondent has:
been permanently prohibited from conducting securities related business
in any capacity while in the employ of or associated with any MFDA
paid costs of $5,000.
In the Settlement Agreement, the Respondent admitted that, from
September 2008 to March 2009, he received referral fees in the amount
of approximately $2,800 in respect of the sale of a security by another
individual to two clients outside the Member, contrary to MFDA Rules
2.4.2 and 2.1.1.
The Hearing Panel advised that it will issue written reasons for its
decision in due course. A copy of the Settlement Agreement 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
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