TORONTO, Nov. 3, 2014 /CNW/ - A Hearing Panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada ("MDFA") has issued its Reasons for Decision in connection with a disciplinary hearing held in Toronto, Ontario, on July 23, 2014, in the matter of Robert Andrew Shaw (the "Respondent"). In its Reasons for Decision, the Hearing Panel levied the following fine and confirmed sanctions imposed at the hearing on the Respondent:
- a fine in the amount of $250,000;
- a permanent prohibition on the authority of the Respondent to conduct securities related business in any capacity; and
- costs in the amount of $7,500.
A copy of the Reasons for Decision is available on the MFDA website at www.mfda.ca. During the period described in the Reasons for Decision, the Respondent carried on business in the Brooklin, Ontario area.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 108 Members and their approximately 80,000 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
For further information: Hugh Corbett, Managing Director, Enforcement, 416-943-4685, [email protected]