MFDA Hearing Panel issues Reasons for Decision (Penalty) in the matter of Edward Rempel

TORONTO, Dec. 21, 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 (Penalty) following a penalty hearing held in Toronto, Ontario on November 2, 2015 in respect of Edward Andrew Rempel (the "Respondent"). In its Reasons for Decision (Penalty) dated December 18, 2015, the Hearing Panel confirmed the following sanctions on the Respondent:

(a) 

a prohibition from conducting securities related business in any capacity as an Approved Person of, or in association with, any Member of the MFDA until August 5, 2018;

(b)  

after August 5, 2018, if the Respondent seeks to become re-registered to conduct securities related business while in the employ of or associated with a Member of the MFDA, the Respondent shall be subject to strict supervision by the Member with which he becomes re-registered for a period of twelve (12) months from the date that he becomes re-registered;

(c)   

a fine in the amount of $100,000; and

(d) 

costs in the amount of $25,000.

A copy of the Reasons for Decision (Penalty) is available on the MFDA website at www.mfda.ca. During the period described in the Reasons for Decision (Penalty), the Respondent carried on business in Brampton, Ontario.

The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 101 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, ctoth@mfda.ca

RELATED LINKS
http://www.mfda.ca

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