February 9, 2018 (Toronto, Ontario) – A settlement hearing in the matter of Stephanie See-Wing Ho (“Respondent”) was held on February 5, 2018 in Toronto, Ontario before a three-member Hearing Panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada (“MFDA”).
The Hearing Panel approved the settlement agreement dated December 20, 2017 (“Settlement Agreement”) between Staff of the MFDA and the Respondent, as a consequence of which the following sanctions were imposed on the Respondent:
- a prohibition from conducting securities related business in any capacity while in the employ of or associated with any Member of the MFDA for a period of three months;
- a fine in the amount of $10,000;
- costs in the amount of $5,000; and
- shall in the future comply with Rule 1.3 and the policies of any Member with whom she is registered if she becomes an Approved Person again in the future.
In the Settlement Agreement, the Respondent admitted that between November 2013 and June 2015, she engaged in outside business activities by among other things, serving as a director of a mortgage investment corporation (“MIC”) and by opening a bank account for MIC without obtaining prior approval from the Member to engage in such conduct, contrary to former MFDA Rule 1.2.1(c) and the policies and procedures of the Member.
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.