TORONTO, Oct. 22, 2013 /CNW/ - A Hearing Panel of the Prairie Regional Council of the MDFA has issued
its Decision and Reasons in connection with the disciplinary hearing
held in Calgary, Alberta on May 24, 2013 in the matter of Tony Siu Fai
In its Decision and Reasons, the Hearing Panel found that Allegations 1,
2 and 3 made against the Respondent in the Notice of Hearing issued
January 21, 2013 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 MFDA
a fine of $90,000; and
costs 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 115 Members and their approximately 80,000 Approved
Persons with a mandate to protect investors and the public interest.
SOURCE: Mutual Fund Dealers Association of Canada
For further information:
Managing Director, Enforcement
Vice-President, Prairie Region