TORONTO, Sept. 11, 2013 /CNW/ - A disciplinary hearing in the matter of Dorothy Siu Wah Chan (the "Respondent") was held yesterday in Vancouver, British Columbia before a three-person Hearing Panel of the MFDA's Pacific Regional Council.
Following submissions from MFDA counsel, the Hearing Panel found that the allegation set out in the Notice of Hearing dated April 16, 2013 had been established and imposed the following penalties and costs on the Respondent and advised that it will issue written reasons for its decision in due course:
- a permanent prohibition from conducting securities related business while in the employ of, or associated with, any MFDA Member;
- a $650,000 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.
SOURCE: Mutual Fund Dealers Association of Canada
For further information:
Managing Director, Enforcement