December 6, 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 December 5, 2019 (“Reasons for Decision”) in connection with a settlement hearing held in Vancouver, British Columbia on September 23, 2019 in the matter of David Michael Gordon (“Respondent”).
In its Reasons for Decision, the Hearing Panel confirmed the sanctions imposed on the Respondent. In particular, the Respondent:
- is permanently prohibited from conducting securities related business in any capacity while in the employ or associated with an MFDA Member;
- shall pay a fine of $25,000; (“Fine”);
- has paid costs of $2,500 (“Costs”);
- payment of the Fine by the Respondent shall be made as follows:
- $15,000 (Fine) upon acceptance of the Settlement Agreement;
- $2,500 (Costs) upon acceptance of the Settlement Agreement;
- $5,000 (Fine) on or before March 31, 2020; and
- $5,000 (Fine) on or before September 30, 2020.
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 Campbell River, 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.