TORONTO , June 4, 2020 /CNW/ - A settlement hearing in the matter of Tanya Francesca Castelino ("Respondent") was held today in Toronto, Ontario by electronic hearing before a three-member Hearing Panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA").
The Hearing Panel accepted the settlement agreement dated May 13, 2020 ("Settlement Agreement") between Staff of the MFDA and the Respondent, as a consequence of which the following sanctions were imposed on the Respondent:
- a fine in the amount of $13,500 ;
- costs in the amount of $2,500 ; and
- shall in the future comply with MFDA Rule 2.1.1.
In the Settlement Agreement, the Respondent admitted that:
between February 8 and April 4, 2018, she signed the signature or initials of four clients on three account forms, and submitted the forms to the Member for processing, contrary to MFDA Rule 2.1.1; and
on May 14, 2018 and May 28, 2018, she misled the Member during its investigation into her conduct when she falsely stated that she did not sign the signature or initials of three clients on two account forms, contrary to MFDA Rule 2.1.1.
A copy of the Settlement Agreement is available on the MFDA website at www.mfda.ca. During the period described in the Settlement Agreement, the Respondent carried on 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 81,000 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
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