TORONTO, March 14, 2023 /CNW/ - A Hearing Panel of the Mutual Fund Dealers Association of Canada, now New Self-Regulatory Organization of Canada ("New SRO"), has issued its Reasons for Decision dated March 10, 2023 ("Reasons for Decision"), in connection with a disciplinary hearing held electronically by videoconference in Toronto, Ontario on February 8, 10-11, 2022, July 20, 2022 and September 20, 2022, in the matter of Amin Mohammad Ali (the "Respondent").
In its Reasons for Decision, the Hearing Panel outlined its findings of misconduct and confirmed the sanctions imposed on the Respondent. In particular, the Respondent:
- has been permanently prohibited from conducting securities related business in any capacity while in the employ of or associated with a Member of the MFDA;
- shall pay a fine in the amount of $50,000; and
- shall pay costs in the amount of $10,000.
A copy of the Reasons for Decision is available on the MFDA website at www.mfda.ca. During the period described in the Notice of Hearing, the Respondent carried on business in the Burlington, Ontario area.
New Self-Regulatory Organization of Canada is the national self-regulatory organization that oversees all investment dealers, mutual fund dealers and trading activity on Canada's debt and equity marketplaces. New SRO is carrying on the regulatory functions of the Investment Industry Regulatory Organization of Canada and the Mutual Fund Dealers Association of Canada, and is committed to the protection of investors, providing efficient and consistent regulation, and building Canadians' trust in financial regulation and the people managing their investments. For more information, visit www.newselfregulatoryorganizationofcanada.ca.
SOURCE New Self-Regulatory Organization of Canada (New SRO)
Charles Toth, Vice-President, Enforcement, 416-943-4619, [email protected]
Share this article