MFDA Hearing Panel reserves judgment on penalty in the matter of Ayokunnu Are

TORONTO, July 8, 2015 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") commenced a disciplinary proceeding in respect of Ayokunnu Are (the "Respondent") by Notice of Hearing (the "Notice of Hearing") dated October 2, 2012.

Submissions by the parties with respect to penalty took place today before a three-member Hearing Panel of the MFDA's Central Regional Council. The Hearing Panel reserved its decision on penalty and advised that it will issue its decision and written reasons in due course.

A copy of the Notice of Hearing is available on the MFDA website at During the period described in the Notice of Hearing, the Respondent carried on business in North York, 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: Marco Wynnyckyj, Manager, Hearings Administration, 416-945-5146,


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