MFDA Hearing Panel issues Decision and Reasons (Penalty) in the matter of Bradley Crompton, Michelle Crompton, and William Henderson
TORONTO, May 5, 2015 /CNW/ - A Hearing Panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA") has issued its Decision and Reasons (Penalty) following a penalty hearing held on April 15, 2015 in respect of Bradley Gerard Crompton ("Bradley Crompton"), Michelle Ann Crompton ("Michelle Crompton"), and William Craig Henderson ("Henderson"). In its Decision and Reasons (Penalty) dated May 5, 2015, the Hearing Panel imposed the following sanctions:
As against Bradley Crompton:
- a permanent prohibition from conducting securities related business in any capacity while in the employ of, or associated with any MFDA Member;
- a fine in the amount of $500,000; and
- costs in the amount of $10,000.
As against Michelle Crompton:
- a permanent prohibition from conducting securities related business in any capacity while in the employ of, or associated with any MFDA Member;
- a fine in the amount of $500,000; and
- costs in the amount of $10,000.
As against Henderson:
- a suspension from conducting securities related business while in the employ of, or associated with any MFDA Member for a period of two (2) years;
- a $25,000 fine;
- $10,000 in costs; and
- should Henderson seek re-registration after the two (2) year suspension, he shall not be re-registered unless the fine and costs are fully paid and unless he writes or re-writes and passes an appropriate industry course or other education acceptable to MFDA Staff. For the first 12 months of his registration, he shall be closely supervised by a Member pursuant to a supervision plan approved in advance by the MFDA Staff.
A copy of the Decision and Reasons (Penalty) 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 104 Members and their approximately 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
Shaun Devlin, Senior Vice-President, Member Regulation, Enforcement, 416-943-4672, [email protected]
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