TORONTO, March 6, 2019 /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 March 5, 2019 ("Reasons for Decision") in connection with a settlement hearing held in Toronto, Ontario on December 19, 2018 in the matter of Marc Joseph Robert Bodson ("Respondent").
In its Reasons for Decision, the Hearing Panel confirmed the sanctions imposed on the Respondent. In particular, the Respondent:
- has been prohibited from conducting securities related business in any capacity in the employ of or associated with a Member of the MFDA for a period of one month;
- shall pay a fine in the amount of $10,000 (the "Fine");
- the Fine shall be paid in monthly instalments starting on January 19, 2019 with the payment of $1666.70 followed by five equal monthly payments of $1666.66;
- the Fine shall be paid in full by June 19, 2019;
- shall pay costs in the amount of $5,000; and
- shall in the future comply with MFDA Rules 2.1.1 and 2.3.1.
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 conducted business in the Val Caron, 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 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, firstname.lastname@example.org