September 30, 2020 (Toronto, Ontario) – A Hearing Panel of the Prairie Regional Council of the Mutual Fund Dealers Association of Canada (“MFDA”) has issued its Reasons for Decision dated September 29, 2020 (“Reasons for Decision”) in connection with a disciplinary hearing held by electronic hearing in Edmonton, Alberta on September 9, 2020 in the matter of Rajvir Kaur Hothi (“Respondent”).
In its Reasons for Decision, the Hearing Panel outlined its reasons for its findings of misconduct and confirmed the sanctions imposed on the Respondent. In particular, the Respondent:
- shall be permanently prohibited from conducting securities related business in any capacity while in the employ of or associated with any MFDA Member;
- shall pay a fine of $90,000; and
- shall pay costs of $6,500.
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 carried on business in the Edmonton, Alberta 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.