TORONTO , April 19, 2017 /CNW/ - A Hearing Panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA") has issued its Reasons for Decision ("Reasons for Decision") in connection with a settlement hearing held in Toronto, Ontario on February 7, 2017 in the matter of Mary Dee Happy Iturralde ("Respondent").
In its Reasons for Decision dated April 18, 2017 , the Hearing Panel confirmed the sanctions imposed on the Respondent. In particular, the Respondent:
- is suspended from conducting securities related business in any capacity while in the employ of or associated with any MFDA Member for 18 weeks; commencing on the date of the Order;
- shall pay a fine in the amount of $10,000 , payable in 10 monthly instalments of $1,000 each, commencing one month from the date of the Order;
- has paid costs in the amount of $5,000 ; and
- shall in the future comply with MFDA Rules 2.1.1, 2.1.4, 2.4.2, 2.5.1 and 1.1.2.
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 83,000 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
View original content: http://www.newswire.ca/en/releases/archive/April2017/19/c3697.html