MFDA Hearing Panel makes findings against David Vitch

TORONTO, Sept. 12, 2011 /CNW/ - A disciplinary hearing in the matter of David Allan Vitch (the "Respondent") was held today in Toronto, Ontario before a three-person Hearing Panel of the MFDA's Central Regional Council.

An Agreed Statement of Facts was filed prior to the hearing in which the Respondent admitted to all the facts and allegations set out in the Notice of Hearing dated February 24, 2011. The Hearing Panel made the following orders at the conclusion of the hearing and advised that it would issue written reasons for its decision in due course:

  • The Respondent's authority to conduct securities related business in any capacity over which the MFDA has jurisdiction shall be permanently prohibited;
  • The Respondent shall pay a fine in the amount of $50,000; and
  • The Respondent shall pay costs of this proceeding to the MFDA in the amount of $5,000.

A copy of the Notice of Hearing is available on the MFDA website at

The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 132 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:

Shaun Devlin
Vice-President, Enforcement
416-943-6472 or


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