Market Overview

MFDA Hearing Panel issues Reasons for Decision in the matter of Ryan Dibbley

Share:

MFDA Hearing Panel issues Reasons for Decision in the matter of Ryan Dibbley

Canada NewsWire

TORONTO, Sept. 12, 2018 /CNW/ - A Hearing Panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA") has issued its Reasons for Decision dated September 12, 2018 in connection with a settlement hearing held in Toronto, Ontario on June 7, 2018 in the matter of Ryan Raymond Edward Dibbley ("Respondent").

In its Reasons for Decision, the Hearing Panel confirmed the sanctions imposed on the Respondent. In particular, the Respondent:

  • has been prohibited from acting in the position of a branch manager while in the employ of or associated with any MFDA Member for a period of six months;
  • shall pay a fine in the amount of $5,000 ("Fine");
  • has paid costs in the amount of $2,500;
  • payment of the Fine described above shall be made to and received by MFDA Staff in certified funds as follows:



i.

$1,000 (Fine) shall be paid on or before July 31, 2018;




ii.

$1,000 (Fine) shall be paid on or before August 31, 2018;




iii.

$1,000 (Fine) shall be paid on or before September 28, 2018;




iv.

$1,000 (Fine) shall be paid on or before October 31, 2018; and




v.

$1,000 (Fine) shall be paid on or before November 20, 2018;

 

  • if he fails to make any of the payments described above then:




i.

any outstanding balance of the Fine owed shall immediately become due and payable to the MFDA; and




ii.

he shall be prohibited from conducting securities related business while in the employ of or associated with a Member of the MFDA until such time as the total amount outstanding of the Fine owed is paid to the MFDA.

 

  • in the future shall comply with MFDA Rules 2.5.5(f) and 1.2.1(c) (now MFDA Rule 1.3.2).

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 Hamilton, 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 82,000 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.

SOURCE Mutual Fund Dealers Association of Canada

View original content: http://www.newswire.ca/en/releases/archive/September2018/12/c6817.html

View Comments and Join the Discussion!