TORONTO, Feb. 20, 2015 /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 hearing held in Toronto, Ontario on January 27, 2015 in the matter of Ioana Beckford (the "Respondent"). The Reasons for Decision relate to the Hearing Panel's findings made on January 27, 2015. In its Reasons for Decision dated February 18, 2015, the Hearing Panel confirmed the sanctions imposed on the Respondent:
- a permanent prohibition on the authority of the Respondent to conduct securities related business in any capacity while in the employ of, or associated with, any MFDA Member;
- a fine in the amount of $200,000; and
- costs in the amount of $10,000.
Copies of the Reasons for Decision and the Notice of Hearing are available on the MFDA website at www.mfda.ca. During the period described in the Notice of Hearing, the Respondent carried on business in Toronto, Ontario.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 107 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
For further information: Hugh Corbett, Managing Director, Enforcement, 416-943-4685, [email protected]