MFDA Hearing Panel issues Reasons for Decision in the matter of Sageev Satchithanantham

TORONTO, Feb. 14, 2022 /CNW/ - A Hearing Panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada (the "MFDA") has issued its Reasons for Decision dated January 20, 2022 ("Reasons for Decision"), in connection with a settlement hearing held electronically by videoconference in Toronto, Ontario on November 26, 2021, in the matter of Sageev Satchithanantham (the "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 while in the employ of or associated with a Member of the MFDA for a period of one month, expiring on December 31, 2021;
• has paid a fine of $20,000;
• has paid costs of $5,000; and
• shall complete an ethics or professional conduct course within six months of the acceptance of the Settlement Agreement.

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 out of the Scarborough, 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 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]