MFDA Hearing Panel imposes sanctions and issues Reasons for Decision in the matter of Francis Dorrington
TORONTO, July 13, 2015 /CNW/ - A Hearing Panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA") has issued its Reasons for Decision in connection with a disciplinary hearing held in Toronto, Ontario on June 2, 2015 in the matter of Francis Dwight Zachary Dorrington (the "Respondent"). In its Reasons for Decision dated July 9, 2015 (the "Reasons for Decision"), the Hearing Panel imposed the following sanctions on the Respondent:
| a) |
a prohibition from conducting securities related business in any capacity as an Approved Person of, or in association with, any Member of the MFDA for a period of two (2) years; |
| b) |
a fine in the amount of $20,000; |
| c) |
costs in the amount of $10,000; and |
| d) |
shall comply with items (b) and (c) before he is permitted to be re-registered in the mutual fund industry. |
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 carried on business in Brampton, Ontario.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 103 Members and their over 80,000 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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