MFDA Hearing Panel issues Decision and Reasons (Penalty) in the matter of Edward Okopny

TORONTO, Sept. 1, 2016 /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 in Toronto, Ontario on August 9, 2016, in the matter of Edward Jonathan Okopny (the "Respondent"). In its Decision and Reasons (Penalty) dated August 31, 2016, the Hearing Panel announced the following sanctions against the Respondent:

a)	a permanent prohibition on the Respondent's authority to conduct securities related business in any capacity while in the employ of or associated with any MFDA Member;
b)	a total fine in the amount of $115,000 consisting of the following:
	i.	a fine in the amount of at least $40,000 in respect of the Respondent's personal financial dealings with client MM;
	ii.	a fine in the amount of $25,000 in respect of the Respondent's undisclosed and unapproved dual occupations;
	iii.	a fine in the amount of $50,000 in respect of the Respondent's failure to cooperate with Staff's investigation; and
c)	costs to the MFDA in the amount of $7,500.

A copy of the Decision and Reasons (Penalty) is available on the MFDA website at www.mfda.ca. During the period described in the Decision and Reasons (Penalty), the Respondent conducted business in the Toronto, 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 83,000 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]