TORONTO, Jan. 15, 2013 /CNW/ - The MFDA commenced a disciplinary proceeding in respect of Scott Michael Kelly by Notice of Hearing dated June 22, 2012.
Submissions with respect to misconduct took place before a three-person Hearing Panel of the MFDA's Central Regional Council on October 11, 2012. In its Decision and Reasons (Misconduct) dated October 23, 2012, the Hearing Panel found that the allegations made against the Respondent had been established.
Submissions with respect to penalty took place today in Toronto, Ontario before the Hearing Panel. The Panel reserved its decision as to penalty and advised that it will issue its decision and written reasons in due course.
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
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MFDA Hearing Panel reserves judgment on penalty in the matter of Scott Kelly
Jan 15, 2013, 03:11 EST