MFDA Hearing Panel approves Settlement Agreement with Abner Hufanda

TORONTO, Sept. 9, 2015 /CNW/ - A settlement hearing in the matter of Abner Sarabia Hufanda (the "Respondent") was held on September 3, 2015 in Vancouver, British Columbia before a three-member Hearing Panel of the Pacific Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA"). The Hearing Panel approved the settlement agreement ("Settlement Agreement") between Staff of the MFDA and the Respondent, as a consequence of which the Respondent:


has paid a fine in the amount of $10,000;


has paid costs in the amount of $2,500; and


has been permanently prohibited from conducting securities related business in any capacity while in the employ of or associated with any MFDA Member, commencing from the date of the Hearing Panel's Order.

In the Settlement Agreement, the Respondent admitted that between March 18, 2010 and December 31, 2012, the Respondent purportedly invested at least $90,000 received from clients JM, MDJ, MJ and MT in a real estate investment outside the Member and thereafter failed to repay or otherwise account for the monies, contrary to MFDA Rules 2.1.1, 2.1.4, 1.1.1, and 1.2.1(c).

A copy of the Settlement Agreement is available on the MFDA website at During the period described in the Settlement Agreement, the Respondent carried on business in Vancouver, British Columbia.

The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 103 Members and their approximately 80,000 Approved Persons with a mandate to protect investors and the public interest. For more information about the MFDA's complaint and enforcement processes, as well as links to 'Check an Advisor' and other Investor Tools, visit the For Investors page on the MFDA website.

SOURCE Mutual Fund Dealers Association of Canada

For further information: Charles Toth, Director, Litigation, 416-943-4619,; Jeff Mount, Vice-President, Pacific Region, 604-694-8846,


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