January 7, 2016 (Toronto, Ontario) – A settlement hearing in the matter of Peter Chi Yan Pang (the “Respondent”) was held yesterday in Vancouver, British Columbia before a three-member Hearing Panel of the Pacific Regional Council of the Mutual Fund Dealers Association of Canada (“MFDA”). The Hearing Panel approved the settlement agreement (“Settlement Agreement”) between Staff of the MFDA and the Respondent, as a consequence of which the Respondent:
- has paid a fine in the amount of $4,000; and
- has paid costs in the amount of $2,500.
In the Settlement Agreement, the Respondent admitted that on March 14, 2014, he falsified a client’s signature on an account form containing KYC information, contrary to MFDA Rules 2.1.1, 2.5.1 and 1.1.2.
A copy of the Settlement Agreement is available on the MFDA website at www.mfda.ca. During the period described in the Settlement Agreement, the Respondent carried on business in Vancouver, British Columbia.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 101 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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