TORONTO, Sept. 19, 2019 /CNW/ - A Hearing Panel of the Atlantic Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA") has issued its Decision and Reasons (Penalty) dated September 19, 2019 ("Decision and Reasons") in connection with a penalty hearing held in Halifax, Nova Scotia on April 16, 2019 in the matter of Michael Andrew Harrigan ("Respondent").
In its Decision and Reasons, the Hearing Panel announced the imposition of the following sanctions on the Respondent:
- a prohibition of at least five years from conducting any securities related business in any capacity as an Approved Person of, or in association with, any Member of the MFDA;
- shall pay a fine in the amount of $50,000; and
- shall pay costs in the amount of $25,000.
A copy of the Decision and Reasons (Penalty) is available on the MFDA website at www.mfda.ca. During the period described in the Decision and Reasons (Penalty), the Respondent carried on business in Dartmouth, Nova Scotia.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its Members and their approximately 81,000 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: Charles Toth, Managing Director, Litigation, 416-943-4619, [email protected]