TORONTO, Feb. 21, 2012 /CNW/ - A Hearing Panel of the MFDA's Central
Regional Council has issued its Decision and Reasons in connection with
the disciplinary hearing held in Toronto, Ontario on February 6, 2012
in the matter of Muchoki Fungai Simba (the "Respondent").
In its Decision and Reasons, the Hearing Panel found that the three
allegations made against the Respondent in the Notice of Hearing issued
October 31, 2011 had been established. As a consequence, the Hearing
Panel has imposed the following sanctions on the Respondent:
a permanent prohibition from conducting securities-related business in
any capacity while in the employ of or associated with any Member of
a fine in the amount of $250,000; and
costs in the amount of $7,500.
A copy of the Decision and Reasons is available on the MFDA website at www.mfda.ca.
The MFDA is the self-regulatory organization for Canadian mutual fund
dealers, regulating the operations, standards of practice and business
conduct of its 125 Members and their approximately 75,000 Approved
Persons with a mandate to protect investors and the public interest.
SOURCE Mutual Fund Dealers Association of Canada
For further information:
416-943-4672 or email@example.com