TORONTO, Sept. 21 /CNW/ - A Settlement Hearing in the matter of Douglas D. Malech (the "Respondent") was held in Edmonton, Alberta on September 18, 2009 before a Hearing Panel of the Prairie Regional Council of the Mutual Fund Dealers Association of Canada (the "MFDA").
The Hearing Panel approved the Settlement Agreement between the Respondent and MFDA Staff, as a consequence of which the Respondent:
- Paid a fine in the amount of $2,500; and
- Shall be permanently prohibited from conducting securities related
business in any capacity.
The Hearing Panel 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 145 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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