June 30, 2017 (Toronto, Ontario) – A Hearing Panel of the Prairie Regional Council of the Mutual Fund Dealers Association of Canada (“MFDA”) has issued its Reasons for Decision in connection with a settlement hearing held in Calgary, Alberta on June 6, 2017 in the matter of Donald William Shaw (“Respondent”). The Reasons for Decision relate to the Hearing Panel’s acceptance of the settlement agreement (“Settlement Agreement”) entered into between the Respondent and Staff of the MFDA.
In its Reasons for Decision dated June 28, 2017, the Hearing Panel confirmed the sanctions imposed on the Respondent. In particular, the Respondent:
- a fine in the amount of $20,000;
- costs in the amount of $2,500; and
- shall in future comply with MFDA Rules 2.1.1 and 2.1.4.
Copies of the Reasons for Decision and the Settlement Agreement are available on the MFDA website at www.mfda.ca. During the period described in the Reasons for Decision, the Respondent carried on business in the Calgary, Alberta 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.
DM 560203 v1