MFDA Hearing Panel issues Decision and Reasons (Penalty) in the matter of Sherry L. McKenzie
February 10, 2017 (Toronto, Ontario) – A Hearing Panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada (“MFDA”) has issued its Decision and Reasons (Penalty) dated February 9, 2017 (“Decision and Reasons”) in connection with a penalty hearing held in Toronto, Ontario on November 30, 2016 in the matter of Sherry L. McKenzie (the “Respondent”).
In its Decision and Reasons the Hearing Panel imposed the following sanctions on the Respondent:
- a permanent prohibition on the authority of the Respondent to conduct securities related business in any capacity;
- a fine in the amount of $10,000 for the maintenance of blank, pre-signed and altered forms;
- a fine in the amount of $50,000 for failing to cooperate with the MFDA; and
- $5,000 on account of the costs of the investigation and prosecution of this matter.
A copy of the Decision and Reasons (Penalty) is available on the MFDA website at www.mfda.ca. During the period described in the Decision and Reasons (Penalty), the Respondent conducted business in the Cambridge, 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 approximately83,000 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.