April 12, 2017 (Toronto, Ontario) – A Hearing Panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada (“MFDA”) has issued its Reasons for Decision (“Reasons for Decision”) in connection with a settlement hearing held in Toronto, Ontario on March 13, 2017 in the matter of Christine S.P.T. Scott (“Respondent”).
In its Reasons for Decision dated April 12, 2017, the Hearing Panel confirmed the sanctions imposed on the Respondent. In particular, the Respondent:
- shall be a suspended from conducting securities related business in any capacity while in the employ of or associated with any MFDA Member for a period of one (1) month;
- has paid a fine in the amount of $10,000;
- has paid costs in the amount of $5,000; and
- shall in future comply with MFDA Rules 1.1.2, 2.1.1, 2.1.3, 2.3.1(a) and 2.5.1.
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 conducted business in Ottawa, Ontario area.
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.