November 12, 2020 (Toronto, Ontario) – A Hearing Panel of the Atlantic Regional Council of the Mutual Fund Dealers Association of Canada (“MFDA”) has issued its Decision (Penalty) and Reasons dated November 6, 2020 (“Decision and Reasons”) in connection with a penalty hearing held by electronic hearing in Halifax, Nova Scotia on July 24, 2020, in the matter of Peter Anthony Varteresian (“Respondent”).
In its Decision and Reasons, the Hearing Panel imposed the following sanctions on the Respondent:
- costs in the amount of $2,000;
- should the Respondent seek to conduct securities related business in any capacity over which the MFDA has jurisdiction, he shall be suspended from conducting any such business for a period of 3 months; and
- should the Respondent seek to become re-registered to conduct securities related business while in the employ of or associated with a Member of the MFDA, he shall be subject to strict supervision by the Member with which he becomes re-registered for a further period of 15 months.
A copy of the Decision (Penalty) and Reasons is available on the MFDA website at www.mfda.ca. During the period described in the Decision (Penalty) and Reasons, the Respondent conducted business in Halifax, Nova Scotia.
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.