MFDA Hearing Panel makes findings against Sergio Gizzo

TORONTO, Jan. 7 /CNW/ - A disciplinary hearing in the matter of Sergio Peter Gizzo (the "Respondent") was held today in Toronto, Ontario before a three-person Hearing Panel of the MFDA's Central Regional Council.

After hearing submissions from Staff of the MFDA, the Hearing Panel found that the following allegation in the Notice of Hearing had been established:

Allegation #1: Commencing May 22, 2009, the Respondent has failed to provide information concerning his conduct while he was an Approved Person requested by the MFDA during the course of an investigation, contrary to section 22.1 of MFDA By-law No. 1.

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 is permanently prohibited from conducting securities related business while in the employ of or associated with any Member of the MFDA;
  • The Respondent shall pay a fine in the amount of $85,000; and
  • The Respondent shall pay costs to the MFDA in the amount of $7,500.

A copy of the Notice of Hearing 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 136 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 sdevlin@mfda.ca


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