TORONTO, March 28, 2013 /CNW/ - The MFDA commenced a disciplinary proceeding in respect of Trevor Amundrud (the "Respondent") by Notice of Hearing dated December 27, 2012.
The hearing of this matter on its merits took place yesterday in Winnipeg, Manitoba before a Hearing Panel of the MFDA's Prairie Regional Council. The parties filed an Agreed Statement of Facts prior to the hearing in which the Respondent admitted to facts which constitute misconduct on his part and for which he could be penalized by a Hearing Panel pursuant to MFDA By-laws.
Following submissions from the parties, the Hearing Panel 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 fine in the amount $5,000; and
- costs in the amount of $2,500.
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
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