TORONTO, Nov. 12, 2019 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") commenced a disciplinary proceeding in respect of Manjit Singh Cheema ("Respondent") by Notice of Hearing dated August 15, 2019.
The hearing of this matter on its merits was held on November 8, 2019 in Vancouver, British Columbia before a three-member Hearing Panel of the MFDA's Pacific Regional Council. After receiving evidence and hearing submissions by the parties, the Hearing Panel found that the allegation set out in the Notice of Hearing had been established. In particular, the Hearing Panel made the following finding of misconduct:
Allegation #1: Commencing in February 2018, the Respondent failed to cooperate with an investigation by MFDA Staff into his conduct, contrary to section 22.1 of MFDA By-Law No. 1.
The Hearing Panel ordered the next appearance in this proceeding take place by teleconference on December 2, 2019 at 10:00 a.m. (Pacific), to set a date to hear submissions with respect to penalty. The appearance will be open to the public, except as may be required for the protection of confidential matters. Members of the public who would like to listen to the teleconference should contact [email protected] to obtain particulars.
A copy of the Notice of Hearing is available on the MFDA website at www.mfda.ca. During the period described in the Notice of Hearing, the Respondent conducted business in the Vancouver, British Columbia area.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its Members and their approximately 81,000 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