August 26, 2021 (Toronto, Ontario) – The Mutual Fund Dealers Association of Canada (“MFDA”) commenced a disciplinary proceeding in respect of King Kwong Clement Chow (“Respondent”) by Notice of Hearing dated October 7, 2020.
In its Reasons for Decision (Misconduct) dated July 14, 2021, the Hearing Panel outlined its reasons for its findings of misconduct made against the Respondent.
A penalty hearing in this proceeding was held by electronic hearing on August 25, 2021, in Edmonton, Alberta before a three-member Hearing Panel of the MFDA’s Prairie Regional Council. After hearing submissions from the parties, the Hearing Panel imposed the following sanctions on the Respondent and advised that it will issue written reasons in due course:
- a permanent prohibition from conducting securities related business in any capacity while in the employ of or associated with any MFDA Member;
- a fine in the amount of $50,000; and
- costs in the amount of $7,500.
Copies of the Reasons for Decision (Misconduct) and the Notice of Hearing are available on the MFDA website at www.mfda.ca. During the period described in the Reasons for Decision (Misconduct), the Respondent conducted 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 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.