TORONTO, Aug. 23, 2018 /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 August 22, 2018 in connection with a settlement hearing held in Toronto, Ontario on July 23, 2018 in the matter of Paul Moroz("Respondent").
In its Reasons for Decision, the Hearing Panel confirmed the sanctions imposed on the Respondent. In particular, the Respondent:
- is prohibited from conducting securities related business in any capacity while in the employ of or associated with a MFDA Member for a period of four months;
- shall pay a fine in the amount of $10,000, in accordance with the following payment schedule:
- $2,000 by October 24, 2018;
- $2,000 by December 24, 2018;
- $2,000 by February 25, 2019;
- $2,000 by April 24, 2019; and
- $2,000 by June 24, 2019,
- has paid costs in the amount of $5,000.
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 St. Catharines, Ontario.
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 82,000 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, [email protected]