British Columbia Securities Commission issues Decision and Reasons in the matter of Rodney Warren
September 13, 2017 (Toronto, Ontario) – A Hearing Panel of the Pacific Regional Council of the Mutual Fund Dealers Association of Canada (“MFDA”) issued its Reasons for Decision on October 27, 2016, in connection with a disciplinary hearing held in Vancouver, British Columbia in respect of Rodney Warren. Copies of the Reasons for Decision are available on the MFDA website at www.mfda.ca.
In November 2016, Mr. Warren and the MFDA each applied to the British Columbia Securities Commission (BCSC) for a Hearing and Review of the MFDA Hearing Panel’s decision, pursuant to sections 28 and 165 of the British Columbia Securities Act (the “Act”). A copy of Mr. Warren’s and the MFDA’s requests for review are available on the BCSC website here.
In their Decision and Reasons dated September 12, 2017, the BCSC Hearing Panel dismissed Mr. Warren’s applications to admit and consider new evidence and set aside the $100,000 monetary penalty imposed by the MFDA Panel. They allowed Mr. Warren’s application to set aside the $10,000 cost award and varied the MFDA Order accordingly. The BCSC Hearing Panel dismissed the MFDA’s application to increase the 90-day suspension imposed on Mr. Warren. A copy of the Decision is available on the BCSC website here.
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.