MFDA Hearing Panel approves settlement agreement with Roland Mah
TORONTO, Jan. 16, 2019 /CNW/ - A settlement hearing in the matter of Roland Mah ("Respondent") took place on January 9, 2019 in Edmonton, Alberta before a three-member Hearing Panel of the Prairie Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA").
The Hearing Panel approved the settlement agreement dated November 20, 2018 ("Settlement Agreement") between Staff of the MFDA and the Respondent, as a consequence of which the following sanctions were imposed on the Respondent:
- has paid a fine in the amount of $5,000; and
- shall in the future comply with MFDA Rules 2.2.1(b) and 2.5.5(f).
In the Settlement Agreement, the Respondent admitted that from June 1, 2013 to April 30, 2016, he:
i) |
learned, but failed to record on Member account forms, accurate Know-Your-Client |
ii) |
failed in his capacity as Branch Manager to supervise two Approved Persons to ensure they |
contrary to MFDA Rules 2.2.1(b) and 2.5.5(f). |
|
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 conducted business in the Edmonton, Alberta 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 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]; Mark Stott, Vice-President, Prairie Region, 403-215-8329, [email protected]
Share this article