MFDA Hearing Panel makes findings against Edmund Teelucksingh

TORONTO, July 15, 2013 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") commenced a disciplinary proceeding in respect of Edmund Ancil Teelucksingh (the "Respondent") by Notice of Hearing dated February 8, 2013.

The hearing of this matter on its merits took place today in Toronto, Ontario before a three-person Hearing Panel of the MFDA's Central Regional Council. The parties filed an Agreed Statement of Facts prior to the hearing in which the Respondent admitted to facts which constitute misconduct on his part and for which he could be penalized by a Hearing Panel pursuant to MFDA By-laws.

Following submissions from the parties, the Hearing Panel imposed the following penalties and costs on the Respondent and advised that it will issue written reasons for its decision in due course:

• a permanent prohibition on the authority of the Respondent to conduct securities related business in any capacity over which the MFDA has jurisdiction;
• a $25,000 fine; and
• $5,000 in costs.

A copy of the Notice of Hearing is available on the MFDA website at www.mfda.ca.

The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 115 Members and their approximately 80,000 Approved Persons with a mandate to protect investors and the public interest.

SOURCE: Mutual Fund Dealers Association of Canada

Hugh Corbett
Managing Director, Enforcement
416-943-4685
[email protected]