March 31, 2021 (Toronto, Ontario) – The Mutual Fund Dealers Association of Canada (“MFDA”) commenced a disciplinary proceeding in respect of Derek Chapman (“Respondent”) by Notice of Hearing dated April 15, 2019.
The misconduct phase on this disciplinary proceeding was held on October 28, 2020 in Toronto, Ontario before a Hearing Panel of the MFDA’s Central Regional Council. The Hearing Panel found that the allegations concerning the Respondent set out in the Notice of Hearing had been established. In its Decision and Reasons (Misconduct) dated December 2, 2020, the Hearing Panel outlined its reasons for its finding of misconduct made against the Respondent.
Submissions by Staff of the MFDA with respect to sanctions were held today by electronic hearing before a three-member Hearing Panel of the MFDA’s Central Regional Council. The Hearing Panel reserved its decision and advised that it will issue its decision as to sanctions along with written reasons in due course.
A copy of the Decision and Reasons (Misconduct) is available on the MFDA website at www.mfda.ca. During the period described in the Decision and Reasons (Misconduct), the Respondent conducted business in St. Catharines, Ontario 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 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.