TORONTO, Oct. 30, 2013 /CNW/ - A Hearing Panel of the Central Regional Council of the MDFA has issued its Decision and Reasons in connection with the disciplinary hearing held in Toronto, Ontario on October 7, 2013 in the matter of Elizabeth VandenBoomen (the "Respondent").
In its Decision and Reasons, the Hearing Panel found that the allegations made against the Respondent in the Notice of Hearing issued March 15, 2013 had been established. As a consequence, the Hearing Panel imposed the following penalties and costs on the Respondent:
- a permanent prohibition on the authority of the Respondent to conduct securities related business in any capacity while in the employ of or associated with any Member of the MFDA;
- a fine of $5,000; and
- costs of $5,000.
A copy of the Decision and Reasons is available on the MFDA website at www.mfda.ca. During the period described in the Notice of Hearing, the Respondent carried on business in the London, Ontario area.
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