MFDA Hearing Panel issues Reasons for Decision in the matter of James Neeson

TORONTO, Sept. 14, 2015 /CNW/ - A Hearing Panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA") has issued its Reasons for Decision in connection with a disciplinary hearing held in Toronto, Ontario on August 27, 2015 in the matter of James Neeson (the "Respondent"). In its Reasons for Decision dated September 11, 2015, the Hearing Panel confirmed the following sanctions imposed on the Respondent:

i)   

shall pay a fine in the amount of $10,000 (the "Fine"), payable in installments as follows:


a.  $2,500 to be paid by February 27, 2016;


b.  $2,500 to be paid by August 27, 2016;


c.  $2,500 to be paid by February 27, 2017; and


d.  $2,500 to be paid by August 27, 2017.

ii)  

in the event that the Respondent is re-registered at any time before August 27, 2017, the Respondent shall pay the balance of the Fine within seven (7) days of the date of his re-registration;

iii)  

in the event the Respondent fails to pay the Fine in accordance with i) and ii) above, he shall immediately be suspended from conducting securities related business while in the employ of or associated with any MFDA Member until such time as the Respondent pays the balance of the Fine;

iv)  

shall pay costs in the amount of $2,500; and

v)   

shall comply in future with MFDA Rule 2.1.1.

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 in the Elginburg, Ontario area.

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 over 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, ctoth@mfda.ca

RELATED LINKS
http://www.mfda.ca

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