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MFDA Hearing Panel reserves judgment on sanctions in the matter of Omar Enrique Rojas Diaz

For further information, please contact:

Charles Toth
Vice President, Enforcement

MFDA Hearing Panel reserves judgment on sanctions in the matter of Omar Enrique Rojas Diaz

December 15, 2020 (Toronto, Ontario) – The Mutual Fund Dealers Association of Canada (“MFDA”) commenced a disciplinary proceeding in respect of Omar Enrique Rojas Diaz (“Respondent”) by Notice of Hearing dated August 5, 2020.

A disciplinary hearing in this matter was held December 14, 2020 by electronic hearing before a three-member Hearing Panel of the MFDA’s Central Regional Council. Prior to the hearing, the parties filed an Agreed Statement of Facts dated December 8, 2020 (“Agreed Statement of Facts”) in which the Respondent admitted to facts constituting contraventions of MFDA By-laws, Rules or Policies, for which the Respondent could be penalized by a Hearing Panel pursuant to section 24.1 of MFDA By-law No. 1. In particular, the Respondent admitted that:

  1. Between on or about September 8, 2017 and June 29, 2018, the Respondent misappropriated approximately $39,270 from one client, contrary to MFDA Rule 2.1.1.

Following submissions from the parties concerning sanctions, the Hearing Panel reserved its decision and advised that it will issue its decision as to sanctions along with written reasons in due course.

Copies of the Notice of Hearing and the Agreed Statement of Facts are available on the MFDA website at During the period described in the Notice of Hearing, the Respondent conducted business in the Toronto, Ontario 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.

DM 787515