MFDA Hearing Panel issues Reasons for Decision in the matter of Daniel Botha

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Mutual Fund Dealers Association of Canada

Jul 10, 2019, 16:00 ET

TORONTO, July 10, 2019 /CNW/ - A Hearing Panel of the Prairie Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA") has issued its Reasons for Decision dated July 10, 2019 ("Reasons for Decision") in connection with a disciplinary hearing held in Calgary, Alberta on May 6 and 7, 2019 in the matter of Daniel Phillipus Botha ("Respondent").

In its Reasons for Decision, the Hearing Panel confirmed the sanctions imposed on the Respondent. In particular, the Respondent:

  • shall pay a fine of $15,000 ("Fine");
  • shall pay costs of $6,000 ("Costs");
  • payment of the Fine and Costs shall be made as follows:
    • $1,750 on or before May 31, 2019;
    • $1,750 on or before June 28, 2019;
    • $1,750 on or before July 31, 2019;
    • $1,750 on or before August 30, 2019;
    • $1,750 on or before September 30, 2019;
    • $1,750 on or before October 31, 2019;
    • $1,750 on or before November 29, 2019;
    • $1,750 on or before December 31, 2019;
    • $1,750 on or before January 31, 2020;
    • $1,750 on or before February 28, 2020;
    • $1,750 on or before March 31, 2020;
    • $1,750 on or before April 30, 2020; and
  • if the Respondent fails to make any of the installment payments described above, any outstanding balance of the Fine and Costs owed shall become immediately due and payable to the MFDA.

A copy of the Reasons for Decision is available on the MFDA website at www.mfda.ca. During the period described in the Reasons for Decision, the Respondent conducted business in the 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 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]; Mark Stott, Vice-President, Prairie Region, 403-215-8329, [email protected]

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www.mfda.ca

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Mutual Fund Dealers Association of Canada

The Mutual Fund Dealers Association of Canada (MFDA) is the national self-regulatory organization (SRO) for the distribution side of the Canadian mutual fund industry. It was established in June 1998 at the initiative of the Canadian Securities Administrators. The MFDA...