April 14, 2020 (Toronto, Ontario) – The Mutual Fund Dealers Association of Canada (“MFDA”) commenced a disciplinary proceeding in respect of Lachman Hassaram Balani (“Respondent”) by Notice of Hearing dated June 19, 2019.
In its Reasons for Decision (Misconduct) dated February 10, 2020, the Hearing Panel outlined its reasons for the findings of misconduct made against the Respondent.
A penalty hearing will take place by electronic hearing before a Hearing Panel of the MFDA’s Central Regional Council on May 26, 2020 at 10:00 a.m. (Eastern). The proceeding will continue to be open to the public, except as may be required for the protection of confidential matters. Members of the public who would like to participate should contact email@example.com to obtain particulars.
A copy of the Reasons for Decision (Misconduct) is available on the MFDA website at www.mfda.ca. During the period described in the Reasons for Decision (Misconduct), the Respondent conducted business in Brampton, Ontario.
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.