MFDA Hearing Panel issues Reasons for Decision in the matter of Kenneth Showalter

TORONTO, June 5, 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 June 3, 2019 ("Reasons for Decision") in connection with a settlement hearing held in Toronto, Ontario on March 7, 2019 in the matter of Kenneth Richard Showalter ("Respondent").

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

•	shall pay a fine in the amount of $18,000, payable in instalments as follows:
	i	$6,000 upon acceptance of the Settlement Agreement;
	ii	$2,000 payable on the first day of each month from April 1, 2019 to September 1, 2019; and
•	has paid costs of $5,000 ("Costs")

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 Courtice, 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 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]

Related Links

www.mfda.ca