TORONTO, Feb. 3, 2014 /CNW/ - A Hearing Panel of the Pacific Regional Council of the Mutual Fund Dealers Association of Canada ("MDFA") has issued its Decision and Reasons in connection with a disciplinary hearing held in Vancouver, British Columbia in the matter of Robert Bruce Rush (the "Respondent").
In its Decision and Reasons, the Hearing Panel found that Allegations 1, 2, 3, and 4 made against the Respondent in the Notice of Hearing dated November 21, 2012 had been established. As a consequence, the Hearing Panel imposed the following sanctions on the Respondent:
- 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 $90,000; and
- costs of $10,000
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 Vernon, British Columbia.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 112 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: Hugh Corbett, Managing Director, Enforcement, 416-943-4685, [email protected]