TORONTO, April 25, 2016 /CNW/ - A Hearing Panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA") has issued its Reasons for Decision in connection with a settlement hearing held in Toronto, Ontario on January 28, 2016 in the matter of Catherine Ann Gowing (the "Respondent"). The Reasons for Decision relate to the Hearing Panel's acceptance of the settlement agreement (the "Settlement Agreement") entered into between the Respondent and Staff of the MFDA. In its Reasons for Decision dated April 25, 2016, the Hearing Panel confirmed the following sanctions imposed on the Respondent:
- a three (3) month prohibition from conducting securities related business in any capacity while in the employ of or associated with any Member of the MFDA;
- costs in the amount of $1,000; and
- shall in future comply with MFDA Rule 2.1.1.
In the Settlement Agreement, Gowing admitted that on October 11, 2014 she falsified a client's signature on an account form in order to open an account for the client, contrary to MFDA Rule 2.1.1.
Copies of the Reasons for Decision and the Settlement Agreement are 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 St. Thomas, 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 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, firstname.lastname@example.org