TORONTO, Aug. 21 /CNW/ - A Settlement Hearing in the matter of Alden M.
Kaley was held today in Fredericton, New Brunswick before a Hearing Panel of
the Atlantic Regional Council of the Mutual Fund Dealers Association of Canada
The Hearing Panel approved the Settlement Agreement between Mr. Kaley and
MFDA Staff, as a consequence of which Mr. Kaley:
- Paid a fine in the amount of $10,000;
- Was suspended from acting as a mutual fund salesperson for 6 months;
- Paid costs in the amount of $2,500.
The Hearing Panel advised that it would issue written reasons for its
decision in due course.
A copy of the Settlement Agreement and the Hearing Panel's Order are
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 145 Members and their approximately 75,000 Approved Persons with a
mandate to protect investors and the public interest.
For further information:
For further information: Shaun Devlin, Vice-President, Enforcement,
(416) 943-4672 or firstname.lastname@example.org