WHEREAS on October 1, 2018, 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 Quan Matthew Anh Nguyen (“Respondent”);
AND WHEREAS the Notice of Hearing was served by Staff of the MFDA (“Staff”) on the Respondent, as appears from the affidavit of service of Carlyle Murray sworn October 20, 2018 and the affidavit of service of Prianka Kalraiya sworn December 10, 2018;
AND WHEREAS on December 11, 2018, the first appearance in this proceeding was held before a public representative of the Central Regional Council of the MFDA (the “Chair of the Hearing Panel”);
AND WHEREAS the Respondent did not attend or participate at the first appearance held on December 11, 2018;
AND WHEREAS during the first appearance, following submissions made by Staff to the Chair of the Hearing Panel with respect to scheduling and other procedural matters, the Chair of the Hearing Panel validated the service of the Notice of Hearing on the Respondent, pursuant to Rules 4.2(1) and 4.8 of the MFDA Rules of Procedure, and scheduled the hearing on the merits (the “Hearing”) in this matter to take place on March 5, 2019 at 10:00 a.m., or as soon thereafter as the hearing could be held, in the MFDA hearing room located at 121 King Street West, Suite 1000, Toronto, Ontario;
AND WHEREAS on December 20, 2018, Staff sent notice of the date of the Hearing to the Respondent;
AND WHEREAS on March 5, 2019, the Hearing of this matter was held before a hearing panel of the Central Regional Council (the “Hearing Panel”);
AND WHEREAS the Respondent did not file a Reply in this proceeding; did not attend the Hearing; was not represented by counsel at the Hearing; and did not otherwise participate in the Hearing;
AND WHEREAS the Hearing Panel considered the evidence filed by, and the submissions of, Staff;
AND WHEREAS the Hearing Panel finds that commencing in or about September 2017, the Respondent failed to cooperate with an investigation by MFDA Staff into the Respondent’s conduct, contrary to section 22.1 of MFDA By-Law No. 1;
IT IS HEREBY ORDERED THAT:
- The Respondent is permanently prohibited from conducting securities related business in any capacity while in the employ of or associated with any MFDA Member, pursuant to section 24.1.1(e) of the 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.
- The Respondent shall pay costs in the amount of $6,500, pursuant to s. 24.2 of MFDA By-law No.1.
Joan SmartJoan SmartChair
Susan DicksSusan DicksIndustry Representative
Brigitte J. GeislerBrigitte J. GeislerIndustry Representative