MFDA Hearing Panel makes findings and issues Decision and Reasons in the matter of Rholyn Hylton
TORONTO, Oct. 31, 2018 /CNW/ - A Hearing Panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA") has issued its Decision and Reasons dated October 30, 2018 ("Decision and Reasons") in connection with a disciplinary hearing held in Toronto, Ontario on September 13, 2018, in the matter of Rholyn St. George Hylton ("Respondent").
In its Decision and Reasons, the Hearing Panel found that the allegation made against the Respondent in the Notice of Hearing dated February 13, 2018 ("Notice of Hearing") had been established. In particular:
Allegation #1: Commencing January 4, 2017, the Respondent has failed to cooperate with the MFDA's investigation into his conduct, contrary to section 22.1 of MFDA By-law No. 1.
In the Decision and Reasons, the Hearing Panel imposed the following sanctions on the Respondent:
- a permanent prohibition from conducting securities related business in any capacity while in the employ of, or in association with, any MFDA Member;
- a fine in the amount of $50,000; and
- costs in the amount of $7,500.
Copies of the Notice of Hearing and the Decision and Reasons are available on the MFDA website at www.mfda.ca. During the period described in the Decision and Reasons, the Respondent conducted business in the Toronto, 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 82,000 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, Managing Director, Litigation, 416-943-4619, [email protected]
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