TORONTO, March 12, 2019 /CNW/ - A Hearing Panel of the Prairie Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA") has issued its Reasons for Decision dated March 11, 2019 ("Reasons for Decision") in connection with a settlement hearing held in Saskatoon, Saskatchewan on January 30, 2019 in the matter of Donald McIntyre ("Respondent").
In its Reasons for Decision, the Hearing Panel confirmed the sanctions imposed on the Respondent. In particular, the Respondent:
- is permanently prohibited from conducting securities related business in any capacity while in the employ of or associated with any MFDA Member;
- shall pay a fine of $10,000 ("Fine");
- has paid costs of $5,000 ("Costs");
- payment of the Fine and Costs shall be made as follows:
- $5,000 (Costs) upon acceptance of the Settlement Agreement;
- $5,000 (Fine) on or before the last business day of the 3rd month following the date of the acceptance of the Settlement Agreement; and
- $5,000 (fine) on or before the last business day of the 6th month following the date of the acceptance of the Settlement Agreement.
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 Maklin, Saskatchewan 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 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