TORONTO, April 4, 2013 /CNW/ - A disciplinary hearing in the matter of Diedre Ann Ferguson (the "Respondent") was held today in Toronto, Ontario before a Hearing Panel of the MFDA's Central Regional Council. The Hearing Panel found that the allegation set out in the Notice of Hearing dated November 7, 2012 had been established and imposed the following sanctions and costs on the Respondent at the conclusion of the hearing:
- a permanent prohibition from conducting securities related business in any capacity while in the employ of, or associated with, any MFDA Member;
- a fine of $100,000; and
- costs of $7,500.
The Notice of Hearing contained the following allegation:
Allegation #1: Commencing in or about October 2010, the Respondent failed to cooperate with an MFDA investigation by failing to comply with a request by MFDA Staff that she provide a written statement concerning certain matters under investigation and attend for an interview, contrary to section 22.1 of MFDA By-law No. 1.
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.
SOURCE: Mutual Fund Dealers Association of Canada
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