TORONTO, Nov. 6, 2013 /CNW/ - A disciplinary hearing in the matter of Barbara Suk Yee Man (the "Respondent") was held today in Toronto, Ontario before a three-person Hearing Panel of the MFDA's Central Regional Council.
Following submissions by the parties, the Hearing Panel found that the three (3) allegations set out in the Notice of Hearing dated May 10, 2013 had been established, imposed the following penalties and costs on the Respondent, and advised that it will issue written reasons for its decision in due course:
- a three-month 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 $5,000 fine; 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 115 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
For further information:
Managing Director, Enforcement