MFDA Hearing Panel approves settlement agreement with Novelette Graham-Hart
TORONTO, Oct. 5, 2018 /CNW/ - A settlement hearing in the matter of Novelette Angela Graham-Hart (the "Respondent") took place yesterday in Toronto, Ontario before a three-member Hearing Panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA").
The Hearing Panel approved the settlement agreement dated August 10, 2018 ("Settlement Agreement") between Staff of the MFDA and the Respondent, as a consequence of which the following sanctions were imposed on the Respondent:
- a prohibition from conducting securities related business in any capacity while in the employ of or associated with a MFDA Member for a period of one month;
- a fine in the amount of $5,000; and
- costs in the amount of $2,500.
In the Settlement Agreement, the Respondent admitted that between February 18, 2014 and July 27, 2015, she engaged in securities related business that was not carried on for the account and through the facilities of the Member by trading mutual funds and equity securities in an on-line discount brokerage accounts of one individual, contrary to MFDA Rules 1.1.1 and 2.1.1.
A copy of the Settlement Agreement is available on the MFDA website at www.mfda.ca. During the period described in the Settlement Agreement, the Respondent carried on business in and around Aurora, Ontario.
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 82,000 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, Director, Litigation, 416-943-4619, [email protected]
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