October 8, 2021 (Toronto, Ontario) – A Hearing Panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada (“MFDA”) issued its Decision (Penalty) and Reasons on January 29, 2021, in connection with a disciplinary proceeding held by electronic hearing in Toronto, Ontario on December 14, 2020, in the matter of Omar Enrique Rojas Diaz (also known as Omar Rojas). A copy of the Decision (Penalty) and Reasons is available on the MFDA website at www.mfda.ca.
As previously announced, the MFDA applied to the Ontario Securities Commission (“OSC”) for a Hearing and Review of the MFDA Hearing Panel’s decision, pursuant to sections 21.7 and 8 of the Securities Act, R.S.O. 1990, c. S.5, as amended. The hearing review was held on August 12, 2021 at the offices of the OSC.
An OSC Hearing Panel has issued its Reasons and Decision on October 5, 2021 (“OSC Decision”) and imposed a financial penalty of $52,270 on the Respondent, in addition to the other sanctions set out in the Decision (Penalty) and Reasons. A copy of the OSC Decision is available on the OSC website here.
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 80,000 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.