TORONTO, Oct. 21, 2014 /CNW/ - A Hearing Panel of the Pacific Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA") has issued its Decision and Reasons in connection with a disciplinary hearing held in Vancouver, British Columbia on June 4-5, 2014, in the matter of Penny Diann Deming (the "Respondent").
The parties filed an Agreed Statement of Facts prior to the hearing in which the Respondent admitted to facts which constitute misconduct on her part. As a consequence, the Hearing Panel has imposed the following sanctions on the Respondent:
- a prohibition of four (4) years and six (6) months from conducting securities related business while in the employ of, or sponsored by, any MFDA Member;
- a fine of $20,000; and
- costs of $2,500.
A copy of the Decision and Reasons is available on the MFDA website at www.mfda.ca. During the period described in the Decision and Reasons, the Respondent carried on business in White Rock, British Columbia.
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