MFDA Hearing Panel issues Decision (Misconduct) and Reasons in the matter of Paul Dwyer

TORONTO, Jan. 21, 2022 /CNW/ - A Hearing Panel of the Prairie Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA") has issued its Decision (Misconduct) and Reasons dated January 20 2022 ("Decision and Reasons"), in connection with a disciplinary hearing held by electronic hearing in Calgary, Alberta on July 26-29 2021, in the matter of Paul Anthony Dwyer ("Respondent").

In its Decision and Reasons, the Hearing Panel outlined its finding of misconduct made against the Respondent. In particular, the Hearing Panel found that in March 2018, the Respondent submitted for processing to the Member two trades for which he stood to earn commissions, after being informed by his Branch Manager that the trades would not be approved, thereby engaging in conduct that fell below the standard of conduct required of Approved Persons, and that gave rise to a conflict or potential conflict of interest which he failed to address by the exercise of responsible business judgement influenced only by the interest of the client, contrary to MFDA Rules 2.1.1 and 2.1.4.

Submissions with respect to sanctions will take place electronically by videoconference before the Hearing Panel on a date to be determined and announced accordingly.

A copy of the Decision (Misconduct) and Reasons is available on the MFDA website at www.mfda.ca. During the period described in the Decision (Misconduct) and Reasons, the Respondent conducted business in Calgary, Alberta 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 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, Vice-President, Enforcement, 416-943-4619, [email protected]; Mark Stott, Vice-President, Prairie Region, 403-215-8329, [email protected]