MFDA Hearing Panel accepts Settlement Agreement with Gary Golden

TORONTO, March 28, 2013 /CNW/ - A Settlement Hearing in the matter of Gary Golden (the "Respondent") was held yesterday in Winnipeg, Manitoba before a Hearing Panel of the MFDA's Prairie Regional Council.

The Hearing Panel accepted the Settlement Agreement between MFDA Staff and the Respondent, as a consequence of which the Respondent has paid a fine of $5,000 and $2,000 in costs. The Respondent also agreed to comply in future with all MFDA By-laws, Rules and Policies, and all applicable securities legislation and regulations, including MFDA Rule 2.1.1.

In the Settlement Agreement, the Respondent admitted that between May 2009 and August 2011, he engaged in a practice unbecoming an Approved Person by maintaining and using altered and partially completed pre-signed forms to conduct Member business, contrary to MFDA Rule 2.1.1.

The Hearing Panel advised that it will issue written reasons for its decision in due course. A copy of the Settlement Agreement is available on the MFDA website at www.mfda.ca.

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

Shaun Devlin
Vice-President, Enforcement
416-943-4672 or [email protected]