MFDA Hearing Panel issues Reasons for Decision in the matter of Jeffrey Dunlop

TORONTO, Jan. 23, 2019 /CNW/ - A Hearing Panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA") has issued its Reasons for Decision dated January 18, 2019 ("Reasons for Decision") in connection with a settlement hearing held in Toronto, Ontario on September 4, 2018 in the matter of Jeffrey Dunlop ("Respondent").

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

• has been suspended from conducting securities related business in any capacity while in the employ of or associated with any MFDA Member for a period of three months;
• shall pay a fine of $20,000 ("Fine");
• has paid costs of $5,000 ("Costs");
• payment of the Fine and Costs shall be made to and received by MFDA Staff as follows:
• $2,500 (Costs) shall be paid upon acceptance of the Settlement Agreement;
• $2,500 (Costs) shall be paid on or before the last business day of the 1^st month following the acceptance of the Settlement Agreement;
• $2,000 (Fine) shall be paid on or before the last business day of the 2^nd month following the acceptance of the Settlement Agreement;
• $2,000 (Fine) shall be paid on or before the last business day of the 3^rd month following the acceptance of the Settlement Agreement;
• $2,000 (Fine) shall be paid on or before the last business day of the 4^th month following the acceptance of the Settlement Agreement;
• $2,000 (Fine) shall be paid on or before the last business day of the 5^th month following the acceptance of the Settlement Agreement;
• $2,000 (Fine) shall be paid on or before the last business day of the 6^th month following the acceptance of the Settlement Agreement;
• $2,000 (Fine) shall be paid on or before the last business day of the 7^th month following the acceptance of the Settlement Agreement;
• $2,000 (Fine) shall be paid on or before the last business day of the 8^th month following the acceptance of the Settlement Agreement;
• $2,000 (Fine) shall be paid on or before the last business day of the 9^th month following the acceptance of the Settlement Agreement;
• $2,000 (Fine) shall be paid on or before the last business day of the 10^th month following the acceptance of the Settlement Agreement;
• $2,000 (Fine) shall be paid on or before the last business day of the 11^th month following the acceptance of the Settlement Agreement;
• if the Respondent fails to make any of the payments described above:
• any outstanding balance of the Fine owed shall immediately become due; and
• he shall be suspended or prohibited from conducting securities related business while in the employ of or associated with a Member of the MFDA until such time as the total outstanding amount of the Fine and Costs owed is paid to the MFDA;
• shall in future comply with MFDA Rules 1.1.2, 1.4(b), 2.5.1, 2.3.1(b) and 2.1.1, and section 4 of MFDA Policy No. 6.

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 Etobicoke, Ontario

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 82,000 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]

Related Links

http://www.mfda.ca