News Release

For immediate release
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For further information, please contact:

Charles Toth

Vice President, Enforcement

(416) 943-4619

ctoth@mfda.ca

MFDA Hearing Panel makes findings of misconduct and imposes sanctions against Krystal Jean Vanlandschoot

December 16, 2020 (Toronto, Ontario) – The Mutual Fund Dealers Association of Canada (“MFDA”) commenced a disciplinary proceeding in respect of Krystal Jean Vanlandschoot (“Respondent”) by Notice of Hearing dated May 20, 2020.

A disciplinary hearing in this proceeding was held by electronic hearing today in Toronto, Ontario before a three-member Hearing Panel of the MFDA’s Central Regional Council. After receiving evidence and hearing submissions by Staff of the MFDA, the Hearing Panel found that the allegations set out in the Notice of Hearing had been established. In particular, the Hearing Panel made the following findings of misconduct:

Allegation #1: Between May 2018 and July 2018, the Respondent misappropriated at least $5,489 from two clients, contrary to MFDA Rule 2.1.1.

Allegation #2: Commencing in September 2018, the Respondent failed to cooperate with MFDA Staff during the course of an investigation into her conduct, contrary to section 22.1 of MFDA By-law No. 1.

Following submissions from Staff of the MFDA with respect to penalty, the Hearing Panel imposed the following sanctions on the Respondent and advised that it will issue written reasons in due course:

  • a permanent prohibition from conducting securities related business in any capacity while in the employ of or associated with any MFDA Member;
  • a fine in the amount of $80,000; and
  • costs in the amount of $7,500.

A copy of the Notice of Hearing is available on the MFDA website at www.mfda.ca. During the period described in the Notice of Hearing, the Respondent carried on business in the Simcoe, 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.