TORONTO, Aug. 19, 2020 /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 18, 2020 ("Reasons for Decision") in connection with a settlement hearing held by electronic hearing in Toronto, Ontario on August 5, 2020 in the matter of PEAK Investment Services Inc. ("Respondent").
In its Reasons for Decision, the Hearing Panel confirmed the sanctions imposed on the Respondent. In particular, the Respondent:
- has paid a fine of $75,000; and
- has paid costs of $15,000; and
- shall in future comply with MFDA Rules 2.5.1 and 1.4, and MFDA Policy Nos. 3, 5 and 6.
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, Vice President, Enforcement, 416-943-4619, [email protected]