TORONTO, Aug. 5, 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 April 7-8, 2015 in the matter of Mohamed Tahir (the "Respondent"). In its Reasons for Decision dated August 4, 2015, the Hearing Panel confirmed the following sanctions imposed on the Respondent:
- a permanent prohibition from conducting securities related business in any capacity over which the MFDA has jurisdiction;
- a fine in the amount of $175,000; and
- costs in the amount of $10,000.
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 Respondents carried on business in Richmond Hill, Ontario.
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, firstname.lastname@example.org