TORONTO, Oct. 31, 2016 /CNW/ - A Hearing Panel of the Prairie Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA") has issued its Reasons for Decision ("Reasons for Decision") in connection with a disciplinary hearing held in Vancouver, British Columbia on May 3-5, 2016 in the matter of Rodney M. Warren (the "Respondent"). In its Reasons for Decision dated October 27, 2016, the Hearing Panel confirmed the following sanctions imposed on the Respondent:
- a suspension of 90 days, commencing May 9, 2016, on the authority of the Respondent to conduct securities related business in any capacity over which the MFDA has jurisdiction; (the "Suspension");
- after the conclusion of the Suspension, a period of 12 months of strict supervision, followed by 12 months of close supervision;
- a permanent prohibition on leveraging clients;
- a fine in the amount of $100,000; and
- costs in the amount of $10,000.
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 the Vancouver and Langley, British Columbia areas.
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 83,000 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