TORONTO, June 8, 2016 /CNW/ - A Hearing Panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA") has issued its Reasons for Decision (Misconduct) in connection with a disciplinary hearing held in Toronto, Ontario on May 30, 2016 in the matter of Gilles Robert Latour (the "Respondent").
In its Reasons for Decision (Misconduct) dated June 7, 2016, the Hearing Panel outlines its reasons for the findings of misconduct made against the Respondent. In particular, the Hearing Panel found that the Respondent:
- between May 2007 and October 31, 2014, solicited and accepted a total of at least $651,946 from at least 3 clients, which the Respondent has failed to return or otherwise account for, contrary to MFDA Rules 2.1.1 and 2.1.4; and
- commencing August 22, 2014, failed or refused to provide documents and information, and attend an interview, as requested by MFDA Staff during the course of an investigation into his conduct, contrary to section 22.1 of MFDA By-law No. 1.
Submissions with respect to penalty will take place on a date to be determined and announced accordingly.
A copy of the Reasons for Decision (Misconduct) is available on the MFDA website at www.mfda.ca. During the period described in the Reasons for Decision (Misconduct), the Respondent conducted business in Cornwall, Ontario.
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