File No. 2016104
IN THE MATTER OF A DISCIPLINARY HEARINGPURSUANT TO SECTIONS 20 AND 24 OF BY-LAW NO. 1 OFTHE MUTUAL FUND DEALERS ASSOCIATION OF CANADA
Re: Anthony Ladislao Ayala
(ARISING FROM HEARING ON THE MERITS ON AUGUST 16, 2017)
WHEREAS on January 2, 2017, the Mutual Fund Dealers Association of Canada (“MFDA”) issued a Notice of Hearing pursuant to sections 20 and 24 of By-law No. 1 in respect of a disciplinary proceeding commenced against Anthony Ladislao Ayala (“Respondent”);
AND WHEREAS on August 16, 2017, the Staff of the MFDA and the Respondent executed an Agreed Statement of Facts in which the Respondent admitted that:
- in about December 2014, he misappropriated approximately $13,395 from clients PF and JZ, thereby failing to deal fairly, honestly and in good faith with clients PF and JZ, and observe high standards of ethics and conduct in the transaction of business, contrary to MFDA Rule 2.1.1; and
- in about December 2014, he falsified client signatures on account forms in order to process a series of unauthorized transactions in respect of clients PF and JZ, thereby failing to deal fairly, honestly and in good faith with clients PF and JZ, and observe high standards of ethics and conduct in the transaction of business, contrary to MFDA Rules 2.3.1 and 2.1.1.
AND WHEREAS on August 16, 2017, the hearing of the merits in this proceeding was held as scheduled before a hearing panel of the Central Regional Council of the MFDA (“Hearing Panel”);
AND WHEREAS counsel for Staff of the MFDA and the Respondent made submissions to the Hearing Panel with respect to the penalty;
IT IS HEREBY ORDERED THAT:
- the Respondent shall be permanently prohibited from conducting securities related business in any capacity while in the employ of, or in association with, any MFDA Member, pursuant to s. 24.1.1(e) of MFDA By-law No. 1;
- the Respondent shall pay a fine in the amount of $75,000 pursuant to s. 24.1.1(b) of MFDA By-law No. 1; and
- the Respondent shall pay costs in the amount of $10,000 pursuant to s. 24.2 of MFDA By-law 1.
DATED: Aug 16, 2017
"John Lorn McDougall"
John Lorn McDougall