MFDA Hearing Panel issues Reasons for Decision in the matter of James Hunter

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Mutual Fund Dealers Association of Canada

Nov 06, 2020, 15:55 ET

TORONTO, Nov. 6, 2020 /CNW/ - A Hearing Panel of the Pacific Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA") has issued its Reasons for Decision dated November 5, 2020 ("Reasons for Decision") in connection with a settlement hearing held by electronic hearing in Vancouver, British Columbia on September 30, 2020 in the matter of James Alexander Hunter ("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 $17,500 ("Fine");
  • shall pay costs in the amount of $2,500 ("Costs");
  • payment of the Fine and Costs shall be made as follows:
    • $5,000 (Fine) upon acceptance of the Settlement Agreement;
    • $2,500 (Costs) upon acceptance of the Settlement Agreement;
    • $2,500 (Fine) on or before October 30, 2020;
    • $2,500 (Fine) on or before November 30, 2020;
    • $2,500 (Fine) on or before December 31, 2020;
    • $2,500 (Fine) on or before January 29, 2021;
    • $2,500 (Fine) on or before February 26, 2021; and
  • shall in the future comply with MFDA Rule 2.1.1.

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 Vancouver, British Columbia 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]; Jeff Mount, Vice-President, Pacific Region, 604-694-8846, [email protected]

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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...