September 19, 2017 (Toronto, Ontario) – A Hearing Panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada (“MFDA”) has issued its Reasons for Decision (“Reasons for Decision”) in connection with a settlement hearing held in Toronto, Ontario on July 27, 2017 in the matter of Susan Bernadette Doyle (“Respondent”).
In its Reasons for Decision dated September 18, 2017, the Hearing Panel confirmed the sanctions imposed on the Respondent. In particular, the Respondent:
- has been prohibited from acting in the capacity of branch manager for a period of six (6) months;
- shall pay a fine in the amount of $10,000 (“Fine”);
- has paid costs in the amount of $2,500 (“Costs”);
- shall pay the Fine and Costs in certified funds as follows:
- $2,500 payable upon entering into the settlement agreement;
- $1,666.66 on the last business day of the first through and including the sixth month following the date of the settlement agreement; and
- shall in the future comply with MFDA Rules 2.2.1, 1.1.2, 2.5.1 and 2.1.1.
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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