TORONTO, Nov. 10, 2014 /CNW/ - A Hearing Panel of the Prairie Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA") has issued its Reasons for Decision in connection with a disciplinary hearing in Calgary, Alberta, on February 25-26, 2014 and May 8, 2014, in the matter of Murray Arnold Greenberg ("Greenberg") and Katrina Anne Powell ("Powell") (collectively the "Respondents"). In its Reasons for Decision, the Hearing Panel confirmed the following sanctions levied against the Respondents:
As against Greenberg:
- 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 $250,000 fine; and
- $10,000 in costs.
As against Powell:
- 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; and
- $5,000 in costs.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 108 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