- A two (2) year suspension on the authority of the Respondent to conduct securities related business while in the employ of or associated with a Member of the MFDA;
- a fine of $5,000;
- costs of $5,000; and
- prior to becoming registered in the securities industry again, the Respondent be required to successfully complete the Conduct and Practices Handbook course offered by the Canadian Securities Institute or another course acceptable to Staff of the MFDA.
A copy of the Decision and Reasons is available on the MFDA website at www.mfda.ca. During the period described in the Notice of Hearing, 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 111 Members and their approximately 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: Hugh Corbett, Managing Director, Enforcement, 416-943-4685, firstname.lastname@example.org