MFDA Hearing Panel issues Decision (Penalty) and Reasons in the matter of Dean Jenkins
TORONTO, Jan. 5, 2021 /CNW/ - A Hearing Panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA") has issued its Decision (Penalty) and Reasons dated January 5, 2021, ("Decision and Reasons") in connection with a disciplinary hearing held by electronic hearing in Toronto, Ontario on November 3, 2020, in the matter of Dean Martin Jenkins ("Respondent").
In its Decision and Reasons, the Hearing Panel imposed the following sanctions on the Respondent:
- 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 $30,000 ("Fine");
- costs in the amount of $2,500 ("Costs);
- payment of the Fine and Costs shall be made in 60 monthly instalments of $541.67 each, without interest, on the first day of each month, with the first instalment commencing July 1, 2021; and
- if any of the instalment are not paid when due, the unpaid balance of the Fine and Costs shall thereupon become due and payable unless the MFDA provides otherwise by order of a hearing panel.
A copy of the Decision (Penalty) and Reasons is available on the MFDA website at www.mfda.ca. During the period described in the Decision (Penalty) and Reasons, the Respondent carried on business in the St. Catharines, 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, Vice President, Enforcement, 416-943-4619, [email protected]
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