TORONTO, Sept. 10, 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 August 12-16, 2013 in the matter of William Leonard Maynes.
In its Decision and Reasons, the Hearing Panel found that the two allegations made against the Respondent in the Notice of Hearing issued February 8, 2013 had been established. As a consequence, the Hearing Panel has imposed the following sanctions on the Respondent:
- a prohibition of one (1) year 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 from the date of the Panel's Decision and Reasons;
- a fine in the amount of $15,000; and
- costs in the amount of $10,000.
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