MFDA Hearing Panel issues Reasons for Decision in the matter of Edward Brown
TORONTO, March 23, 2015 /CNW/ - A Hearing Panel of the Atlantic Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA") has issued its Reasons for Decision in connection with a disciplinary hearing held in St. John's, Newfoundland on February 10, 2015 in the matter of Edward S. Brown (the "Respondent"). In its Reasons for Decision dated March 23, 2015, the Hearing Panel confirmed the following sanctions imposed on the Respondent:
| a) |
a five (5) year prohibition from conducting securities related business while in the employ of or associated with any MFDA Member; |
| b) |
a fine in the amount of $25,000; and |
| c) |
costs in the amount of $7,500. |
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 carried on business in Gander, Newfoundland.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 105 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
Hugh Corbett, Managing Director, Enforcement, 416-943-4685, [email protected]
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