TORONTO, March 10, 2020 /CNW/ - A Hearing Panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA") has issued its Reasons for Decision dated March 9, 2020 ("Reasons for Decision") in connection with a disciplinary hearing held in Toronto, Ontario on August 7, 2019 in the matter of Madrie Ann Secord ("Respondent").
In its Reasons for Decision, the Hearing Panel confirmed the sanctions imposed on the Respondent. In particular, the Respondent:
- is prohibited from conducting securities related business in any capacity while in the employ of or associated with any MFDA Member for a period of 18 months;
- shall pay a fine of $7,500, on or before August 7, 2021; and
- shall pay costs of $5,000, on or before August 7, 2021.
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 81,000 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
Renseignements: Charles Toth, Managing Director, Litigation, 416-943-4619, [email protected]