MFDA Hearing Panel issues Reasons for Decision in the matter of Lucillia Tan

TORONTO, March 28, 2022 /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 March 24, 2022 ("Reasons for Decision"), in connection with a disciplinary hearing held electronically by videoconference in Vancouver, British Columbia on October 4, 2021, in the matter of Lucillia Sok Cheng Tan (the "Respondent").

In its Reasons for Decision, the Hearing Panel outlined its findings of misconduct and confirmed the sanctions imposed on the Respondent. In particular, the Respondent:

• has been permanently prohibited from conducting securities related business in any capacity while in the employ of or associated with any MFDA Member;
• shall pay a fine of $125,000; and
• shall pay costs of $10,000.

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 the Burnaby, 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 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

Charles Toth, Vice-President, Enforcement, 416-943-4619, [email protected]; Jeff Mount, Vice-President, Pacific Region, 604-694-8846, [email protected]