TORONTO, Sept. 22, 2016 /CNW/ - A Hearing Panel of the Prairie Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA") has issued its Reasons for Decision in connection with a settlement hearing held in Winnipeg, Manitoba on October 7, 2015 in the matter of Craig Richard MacDonald (the "Respondent"). In its Reasons for Decision dated September 21, 2016, the Hearing Panel confirmed the following sanctions imposed on the Respondent:
- a suspension from conducting securities related business in any capacity while in the employ of, or in association with any MFDA Member for a period of one (1) year;
- a fine in the amount of $10,000;
- costs in the amount of $2,500; and
- in the event the Respondent seeks to become an Approved Person of an MFDA Member, the Respondent shall successfully complete an ethics course prior to becoming an Approved Person.
A copy of the Reasons for Decision is available on the MFDA website at www.mfda.ca. During the period described in the Reasons for Decision, the Respondent carried on business from a branch in Minnedosa, Manitoba.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its Members and their approximately 83,000 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, firstname.lastname@example.org; Mark Stott, Vice-President, Prairie Region, 403-215-8329, email@example.com