MFDA Hearing Panel imposes sanctions on Gregory Burner

TORONTO, Dec. 3 /CNW/ - The penalty phase of the disciplinary hearing in the matter of Gregory James Richard Burner was held on November 30, 2010 in Winnipeg, Manitoba before a three-person Hearing Panel of the MFDA's Prairie Regional Council.

The Hearing Panel determined that the following penalties were appropriate in the circumstances and advised that it will issue written reasons for its decision in due course:

• a permanent prohibition from conducting securities related business;
• a fine in the amount of $120,000.00; and
• costs in the amount of $10,000.

The misconduct phase of the hearing took place in Winnipeg, Manitoba on July 19-20, 2010. The Hearing Panel found that the misconduct described in Allegation 1 of the Notice of Hearing issued on March 16, 2010 had been established.

A copy of the Notice of Hearing 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 136 Members and their approximately 75,000 Approved Persons with a mandate to protect investors and the public interest.

For further information:

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