MFDA Hearing Panel issues Reasons for Decision in the matter of Richard Dhur and Frank Shaw

TORONTO, Sept. 10, 2015 /CNW/ - A Hearing Panel of the Central 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 Toronto, Ontario on July 28, 2015 in the matter of Richard Dhur ("Dhur") and Frank Shaw ("Shaw") (the "Respondents"). In its Reasons for Decision dated September 10, 2015, the Hearing Panel confirmed the following sanctions imposed on the Respondents:

Dhur

• a fine in the amount of $2,500;
• costs in the amount of $2,500;
• prior to any application for re-registration as branch manager with the Ontario Securities Commission, Dhur shall successfully complete the branch manager's course offered by the Canadian Securities Institute in relation to the mutual fund industry; and
• shall in future comply with Rule 2.1.1.

Shaw

• a fine in the amount of $5,000;
• costs in the amount of $2,500;
• prior to any application for re-registration as branch manager with the Ontario Securities Commission, Shaw shall successfully complete the branch manager's course offered by the Canadian Securities Institute in relation to the mutual fund industry; and
• shall in future comply with 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 Respondents carried on business in the Orleans, Ontario area.

The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 103 Members and their over 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, Director, Litigation, 416-943-4619, [email protected]