TORONTO, Jan. 23, 2013 /CNW/ - A Settlement Hearing in the matter of Peiqing (Anna) He (the "Respondent") was held yesterday in Toronto, Ontario before a Hearing Panel of the MFDA's Central Regional Council. The Hearing Panel accepted the Settlement Agreement between MFDA Staff and the Respondent, as a consequence of which the Respondent has:
- been suspended for a period of five (5) years from conducting securities related business while in the employ of or associated with any Member of the MFDA; and
- paid a fine of $5,000; and
- paid costs of $5,000.
In the Settlement Agreement, the Respondent admitted that, from August 2008 to February 2009, she engaged in securities related business that was not carried on for the account and through the facilities of the Member by referring the sale of an investment product to four individuals outside the Member, contrary to MFDA Rules 1.1.1(a) and 2.1.1.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 115 Members and their approximately 80,000 Approved Persons with a mandate to protect investors and the public interest..
SOURCE Mutual Fund Dealers Association of Canada