MFDA Hearing Panel makes findings against Richard Bangyay
TORONTO, June 24, 2013 /CNW/ - A disciplinary hearing in the matter of Richard Bangyay (the "Respondent") was held today in Toronto, Ontario before a Hearing Panel of the MFDA's Central Regional Council.
Following submissions from MFDA counsel, the Hearing Panel found that allegations 1, 2(a), 3 and 4 set out in the Notice of Hearing dated October 11, 2012 had been established and imposed the following sanctions and costs on the Respondent at the conclusion of the hearing:
- a permanent prohibition from conducting securities related business in any capacity while in the employ of, or associated with, any MFDA Member;
- a fine of $250,000; and
- costs of $10,000.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 116 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
More by this Source
MFDA Hearing Panel approves Settlement Agreement with Michael Kant
Feb 12, 2014, 16:52 ET
MFDA announces disciplinary proceeding in respect of Daniel Yanaky
Feb 12, 2014, 16:35 ET
MFDA Hearing Panel approves Settlement Agreement with William Clarke
Feb 12, 2014, 16:31 ET
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.