April 18, 2017 (Toronto, Ontario) – A Hearing Panel of the Prairie Regional Council of the Mutual Fund Dealers Association of Canada (“MFDA”) has issued its Reasons for Decision in connection with a settlement hearing held in Edmonton, Alberta on February 28, 2017 in the matter of Thuy Nhu Nguyen (“Respondent”). The Reasons for Decision relate to the Hearing Panel’s acceptance of the settlement agreement (“Settlement Agreement”) entered into between the Respondent and Staff of the MFDA.
In its Reasons for Decision dated April 18, 2017, the Hearing Panel confirmed the sanctions imposed on the Respondent. In particular, the Respondent:
- has paid a fine in the amount of $7,500;
- has paid costs in the amount of $2,500; and
- shall in the future comply with MFDA Rule 2.1.1.
Copies of the Reasons for Decision and the Settlement Agreement are available on the MFDA website at www.mfda.ca. During the period described in the Reasons for Decision, the Respondent carried on business in Edmonton, Alberta.
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.