TORONTO, Aug. 22, 2018 /CNW/ - A Hearing Panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA") has issued its Reasons for Decision dated August 21, 2018 in connection with a settlement hearing held in Toronto, Ontario on July 31, 2018 in the matter of Bradley John Gascho ("Respondent").
In its Reasons for Decision, the Hearing Panel confirmed the sanctions imposed on the Respondent. In particular, the Respondent:
- is prohibited from conducting securities related business in any capacity while in the employ of or associated with a MFDA Member for a period of three months;
- shall pay a fine in the amount of $35,000, payable in six monthly instalments of $5,833.33 each, commencing one month from the date of acceptance of the Settlement Agreement;
- has paid costs in the amount of $5,000; and
- shall in the future comply with MFDA Rules 2.1.1 and 2.2.1.
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 83,000 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, Director, Litigation, 416-943-4619, [email protected]