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MFDA Hearing Panel approves three settlement agreements

·4 min read

TORONTO, Nov. 29, 2021 /CNW/ - On November 26, 2021, a three-person Hearing Panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA") heard the following three settlement proceedings, the particulars of which are:

Sageev Satchithanantham

A hearing in the matter of Sageev Satchithanantham ("Satchithanantham") was held on November 26, 2021 at which the Hearing Panel approved the settlement agreement dated September 20, 2021 ("Settlement Agreement") between Staff of the MFDA and Satchithanantham, as a consequence of which the following sanctions were imposed:

  • a suspension from conducting securities related business while in the employ of or associated with a Member of the MFDA for a period of one month commencing on December 1, 2021;

  • a fine in the amount of $20,000;

  • costs in the amount of $5,000; and

  • shall complete an ethics or professional conduct course within six months of the acceptance of the Settlement Agreement.

In the Settlement Agreement, Satchithanantham admitted that:

A copy of the Settlement Agreement is available on the MFDA website at www.mfda.ca. During the period described in the Settlement Agreement, Satchithanantham conducted business in the Scarborough, Ontario area.

Jessica Miller

A hearing in the matter of Jessica Ann Miller ("Miller") was held on November 26, 2021 at which the Hearing Panel approved the settlement agreement dated September 20, 2021 ("Settlement Agreement") between Staff of the MFDA and Miller, as a consequence of which the following sanctions were imposed:

  • a fine in the amount of $9,000; and

  • costs in the amount of $5,000.

In the Settlement Agreement, Miller admitted that:

A copy of the Settlement Agreement is available on the MFDA website at www.mfda.ca. During the period described in the Settlement Agreement, Miller conducted business in the Scarborough, Ontario area.

Edward Romaniuk

A hearing in the matter of Edward William Romaniuk ("Romaniuk") was held on November 26, 2021 at which the Hearing Panel approved the settlement agreement dated September 20, 2021 ("Settlement Agreement") between Staff of the MFDA and Romaniuk, as a consequence of which the following sanctions were imposed:

  • a fine in the amount of $6,000; and

  • costs in the amount of $5,000.

In the Settlement Agreement, Romaniuk admitted that:

A copy of the Settlement Agreement is available on the MFDA website at www.mfda.ca. During the period described in the Settlement Agreement, Romaniuk conducted business in the Scarborough, 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 80,000 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

Cision
Cision

View original content: http://www.newswire.ca/en/releases/archive/November2021/29/c8843.html