MFDA Hearing Panel announces sanctions against Christopher White and issues Reasons for Decision
TORONTO, July 8, 2019 /CNW/ - A Hearing Panel of the Atlantic Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA") has issued its Reasons for Decision dated July 5, 2019 ("Reasons for Decision") in connection with a disciplinary hearing held in Halifax, Nova Scotia on April 23, 2019 in the matter of Christopher Douglas White ("Respondent").
As previously announced, the Hearing Panel made the following findings of misconduct against the Respondent:
a) |
on or around September 20, 2016, he falsified a limited trading authorization form, and submitted the form to the Member in response to a supervisory inquiry, contrary to the Member policies and procedures, and MFDA Rules 2.1.1 and 2.5.1 and 1.1.2; and |
b) |
Beginning in or about June 2016, he falsely represented that he had completed a university degree in his application for employment with the Member with which he was seeking to become registered, contrary to MFDA Rule 2.1.1. |
At the hearing on April 23, 2019, Staff of the MFDA made submissions with respect to penalty and the Hearing Panel reserved its decision. In its Reasons for Decision, the Hearing Panel has imposed the following sanctions on the Respondent:
- a prohibition for a period of twelve (12) months from the date he has paid the fine assessed in this matter from conducting securities related business in any capacity while in the employ of, or in association with, any MFDA Member;
- a fine in the amount of $25,000; and
- costs in the amount of $6,250.
A copy of the Reasons for Decision is available on the MFDA website at www.mfda.ca. During the period described in the Reasons for Decision, the Respondent conducted business in the Halifax, Nova Scotia 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
Charles Toth, Managing Director, Litigation, 416-943-4619, [email protected]
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