MFDA Hearing Panel issues Reasons for Decision in the matter of Sudhir Khanna

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Mutual Fund Dealers Association of Canada

Feb 28, 2018, 18:59 ET

TORONTO, Feb. 28, 2018 /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 February 27, 2018 in connection with a settlement hearing held in Toronto, Ontario on January 25, 2018 in the matter of Sudhir Khanna ("Respondent").

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

  1. a prohibition from conducting securities related business in any capacity while in the employ of or associated with a Member of the MFDA for a period of six months;
  2. a prohibition from acting as a branch manager for a period of twelve months;
  3. costs in the amount of $2,500; and
  4. shall in the future comply with MFDA Rule 2.1.1.

In the Settlement Agreement dated November 17, 2017, the Respondent admitted that:

a)  

on March 22, 2016, he signed a client's signature on two account forms, contrary to MFDA Rule 2.1.1; and

b)

on April 21, 2016, he misled the Member in its investigation into his conduct when he falsely denied that he signed a client's signature on two account forms, contrary to MFDA Rule 2.1.1.

Copies of the Reasons for Decision and the Settlement Agreement are available on the MFDA website at www.mfda.ca. During the period described in the Reasons for Decision, the Respondent conducted business in the Ottawa, 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 83,000 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]

Related Links

http://www.mfda.ca

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Mutual Fund Dealers Association of Canada

The Mutual Fund Dealers Association of Canada (MFDA) is the national self-regulatory organization (SRO) for the distribution side of the Canadian mutual fund industry. It was established in June 1998 at the initiative of the Canadian Securities Administrators. The MFDA...