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MFDA announces settlement hearing to take place in the matter of Antony Chau

For further information, please contact:

Charles Toth
Vice President, Enforcement

MFDA announces settlement hearing to take place in the matter of Antony Chau

April 21, 2022 (Toronto, Ontario) – The Mutual Fund Dealers Association of Canada (“MFDA”) commenced a disciplinary proceeding in respect of Antony Kin San Chau (the “Respondent”) by Notice of Hearing dated July 9, 2021 (“Notice of Hearing”).

As the result of a settlement agreement entered into between Staff of the MFDA and the Respondent, a settlement hearing will take place electronically by videoconference before a Hearing Panel of the MFDA’s Central Regional Council on April 26, 2022, commencing at 2:00 p.m. (Eastern), or as soon thereafter as the matter can be held. Members of the public who would like to obtain further particulars should contact hearings@mfda.ca.

The subject matter of the proposed settlement agreement concerns matters for which the Respondent may be disciplined pursuant to ss. 20 and 24.1.1 of By-law No. 1 of the MFDA. In particular, the settlement agreement concerns allegations that the Respondent:

  1. between February 2016 and April 2017, failed to fulfill his responsibilities as Ultimate Designated Person with respect to concerns that an Approved Person at the Member was not accurately recording Know-Your-Client information, contrary to MFDA Rules 2.5.2 and 2.1.1; and
  2. commencing on or about October 30, 2016, while acting in the capacity as Ultimate Designated Person, failed to take adequate steps to ensure the Member’s compliance with the terms of an Order of a MFDA Hearing Panel dated July 8, 2014 in MFDA File No. 201406, contrary to the terms of the Order and MFDA Rules 2.5.2 and 2.1.1.

MFDA settlement hearings are typically held in the absence of the public pursuant to section 20.5 of MFDA By-law No. 1 and Rule 15.2(2) of the MFDA Rules of Procedure. If the Hearing Panel accepts the settlement agreement, then the proceeding will become open to the public and a copy of the decision of the Hearing Panel and the settlement agreement will be made available at www.mfda.ca.

A copy of the Notice of Hearing is available on the MFDA website at www.mfda.ca. During the period described in the Notice of Hearing, the Respondent conducted business in the Toronto, 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 approximately 80,000 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.

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