June 26, 2020 (Toronto, Ontario) – The Mutual Fund Dealers Association of Canada (“MFDA”) commenced a disciplinary proceeding in respect of Rebecca Wai-Chiu Li (“Respondent”) by Notice of Hearing dated October 1, 2019.
The misconduct phase on this disciplinary proceeding was held on June 8, 2020 by electronic hearing in Toronto, Ontario before a three-member 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.
Submissions by Staff of the MFDA with respect to sanctions was held today by electronic hearing before a three-member Hearing Panel of the MFDA’s Central Regional Council. The Hearing Panel reserved its decision on sanctions and advised that it will issue its decision as to misconduct and sanctions along with written reasons in due course.
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.