MFDA Hearing Panel issues Decision and Reasons in the matter of David Dean
TORONTO, Jan. 29, 2020 /CNW/ - A Hearing Panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA") has issued its Decision and Reasons dated January 29, 2020 ("Decision and Reasons") in connection with a disciplinary hearing held in Toronto, Ontario on June 3-4, 2019, October 1, 2019 and November 19, 2019 in the matter of David Jeremy Dean ("Respondent").
In its Decision and Reasons, the Hearing Panel found that the allegation made against the Respondent in the Notice of Hearing dated October 5, 2018 ("Notice of Hearing") had been established. In particular:
Allegation #1: Commencing June 9, 2016, the Respondent failed to cooperate with an investigation by Staff of the MFDA into his conduct, contrary to section 22.1 of MFDA By-law No. 1.
In its Decision and Reasons, the Hearing Panel imposed the following sanctions on the Respondent:
- a permanent prohibition to conduct securities related business in any capacity while in the employ of or associated with any MFDA Member;
- a fine in the amount of $40,000; and
- costs in the amount of $10,000.
Copies of the Decision and Reasons and Notice of Hearing are available on the MFDA website at www.mfda.ca. During the period described in the Decision and Reasons, the Respondent conducted business in the Windsor, Ontario 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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