May 16, 2019 (Toronto, Ontario) – A Hearing Panel of the Pacific Regional Council of the Mutual Fund Dealers Association of Canada (“MFDA”) has issued its Reasons for Decision dated May 15, 2019 (“Reasons for Decision”) in connection with a settlement hearing held in Vancouver, British Columbia on April 2, 2019 in the matter of Emily Yu (“Respondent”).
In its Reasons for Decision, the Hearing Panel confirmed the sanctions imposed on the Respondent. In particular, the Respondent:
- has paid costs of $1,500;
- shall successfully complete the Conduct and Practices Handbook course offered by the Canadian Securities Institute within six months of the acceptance of the Settlement Agreement;
- should the Respondent not complete the Conduct and Practices Handbook course, then without further notice to the Respondent, the Respondent shall summarily be prohibited from conducting securities related business until such time as the Conduct and Practices Handbook course is completed; and
- shall in the future comply with MFDA Rule 2.1.1.
A copy of the Reasons for Decision is available on the MFDA website at www.mfda.ca. During the period described in the Reasons for Decision, the Respondent conducted business in the Vancouver, British Columbia 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.