July 28, 2020 (Toronto, Ontario) – A Hearing Panel of the Prairie Regional Council of the Mutual Fund Dealers Association of Canada (“MFDA”) has issued its Decision and Reasons dated July 27, 2020 (“Decision and Reasons”) in connection with a disciplinary hearing held by electronic hearing in Calgary, Alberta on June 24, 2020 in the matter of Tamar Michelle Eisenberg (“Respondent”).
In its Decision and Reasons, the Hearing Panel outlined its finding of misconduct made against the Respondent. In particular:
Allegation #1: In or around February 2009, the Respondent engaged in securities related business that was not carried on for the account, or through the facilities of the Member by recommending, referring, or facilitating the sale of shares totaling $40,000 in a mortgage investment corporation to one client, contrary to the Member’s policies and procedures and MFDA Rules 1.1.1, 1.1.2, 2.1.1, and 2.5.1.
In its Decision and Reasons, the Hearing Panel imposed the following sanctions on the Respondent:
- a suspension from conducting securities related business in any capacity while in the employ of or associated with any MFDA Member for a period of 3 months;
- a fine in the amount of $15,000; and
- costs in the amount of $5,000.
A copy of the Decision and Reasons is available on the MFDA website at www.mfda.ca. During the period described in the Decision and Reasons, the Respondent carried on business in the Calgary, Alberta 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.