MFDA Hearing Panel makes findings against Wei William Zhang

TORONTO, Oct. 1, 2013 /CNW/ - A disciplinary hearing in the matter of Wei William Zhang (the "Respondent") was held today in Toronto, Ontario before a three-person Hearing Panel of the MFDA's Central Regional Council.

Following submissions from MFDA counsel, the Hearing Panel found that the allegation set out in the Notice of Hearing dated June 14, 2013 had been established, imposed the following penalties and costs on the Respondent, and advised that it will issue written reasons for its decision in due course:

• a permanent prohibition from conducting securities related business while in the employ of, or associated with, any MFDA Member;
• a $75,000 fine; and
• $5,000 in costs.

A copy of the Notice of Hearing is available on the MFDA website at www.mfda.ca.

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