March 29, 2023 (Toronto, Ontario) – A Hearing Panel of the Mutual Fund Dealers Association of Canada, now New Self-Regulatory Organization of Canada (“New SRO”), has issued its Reasons for Decision dated January 26, 2023 (“Reasons for Decision”), in connection with a settlement hearing held electronically by videoconference in Toronto, Ontario on August 12, September 21 and October 31, 2022, in the matter of Roger Eldred Gebhardt (the “Respondent”).
In its Reasons for Decision, the Hearing Panel confirmed the sanctions imposed on the Respondent. In particular, the Respondent:
- has been prohibited from conducting securities related business in any capacity while in the employ of or associated with any Dealer Member registered as a mutual fund dealer (formerly Members of the MFDA) for a period of eight (8) years, commencing October 31, 2022;
- has paid a fine of $70,000; and
- has paid costs of $7,500.
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 Hanover, Ontario area.
New Self-Regulatory Organization of Canada is the national self-regulatory organization that oversees all investment dealers, mutual fund dealers and trading activity on Canada’s debt and equity marketplaces. New SRO is carrying on the regulatory functions of the Investment Industry Regulatory Organization of Canada and the Mutual Fund Dealers Association of Canada, and is committed to the protection of investors, providing efficient and consistent regulation, and building Canadians’ trust in financial regulation and the people managing their investments. For more information, visit www.newselfregulatoryorganizationofcanada.ca.