January 16, 2017 (Toronto, Ontario) – A Hearing Panel of the Central Regional Council of the MFDA has issued its Reasons for Decision with respect to a motion heard on October 25, 2016 in Toronto, Ontario, brought by Clinton Wayne (the “Respondent”) seeking relief, including the following:
- excluding all evidence provided by the Respondent to his Member, Olympian Financial Inc.;
- excluding all evidence obtained by MFDA Investigator, during his interview of the Respondent conducted on March 27, 2014 or any evidence obtained as result of “what was learned during this interview”; and
- a stay of the disciplinary proceeding against the Respondent.
In its Reasons for Decision dated January 13, 2017, the Hearing Panel outlined its reasons for dismissing the motion brought by the Respondent.
A copy of the Reasons for Decision (Motion) is available on the MFDA website at www.mfda.ca. During the period described in the Reasons for Decision (Motion), 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 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.
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