MFDA Hearing Panel issues Reasons for Decision in the matter of Ryan Corcoran
May 9, 2019 (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 dated May 9, 2019 (“Reasons for Decision”) in connection with a settlement hearing held in Toronto, Ontario on January 15, 2019 in the matter of Ryan Russell Gerard Corcoran (“Respondent”).
In its Reasons for Decision, the Hearing Panel confirmed the sanctions imposed on the Respondent. In particular, the Respondent:
- shall pay a fine in the amount of $10,000 (“Fine”);
- shall pay costs in the amount of $2,500 (“Costs”); and
- the Fine and Costs shall be paid in monthly installments starting on January 15, 2019 with the payment of $2,000, followed by eleven consecutive monthly payments of $954.55.
A copy of the Reasons for Decision is available on the MFDA website at www.mfda.ca. During the period described in the Reasons for Decision, the Respondent conducted business in the Laval, Quebec 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 81,000 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.