TORONTO, Sept. 20, 2013 /CNW/ - A Hearing Panel of the Atlantic Regional Council of the MDFA has issued its Decision and Reasons in connection with the disciplinary hearing held in Halifax, Nova Scotia on July 30, 2013 in the matter of Geoffrey Gaunt (the "Respondent").
In its Decision and Reasons, the Hearing Panel found that the three allegations made against the Respondent in the Notice of Hearing issued November 27, 2012 had been established. As a consequence, the Hearing Panel has imposed the following sanctions on the Respondent:
- a permanent prohibition from conducting any securities related business in any capacity while in the employ of or associated with any MFDA Member;
- a fine in the amount of $40,000; and
- costs in the amount of $5,000.
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