News Release

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For further information, please contact:

Charles Toth

Vice President, Enforcement

(416) 943-4619

MFDA Hearing Panel issues Reasons for Decision in the matter of Yvonne Chan

May 29, 2019 (Toronto, Ontario) – A Hearing Panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada (“MFDA”) has issued its Reasons for Decision dated May 28, 2019 (“Reasons for Decision”) in connection with a settlement hearing held in Toronto, Ontario on May 7, 2019 in the matter of Yvonne Yat Sim Chan (“Respondent”).

In its Reasons for Decision, the Hearing Panel confirmed the sanctions imposed on the Respondent. In particular, the Respondent:

  • is prohibited from acting as a Branch Manager or in any other MFDA related supervisory capacity while in the employ of or associated with any Member of the MFDA for a period of six months;
  • has paid a fine of $2,500 (“Fine”);
  • has paid costs of $1,500 (“Costs”); and
  • shall in the future comply with MFDA 2.5.5(f), Rule 2.1.1, and MFDA Policy No. 2.

A copy of the Reasons for Decision is available on the MFDA website at During the period described in the Reasons for Decision, the Respondent conducted business in Markham, 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.