Advisor fined $100,000 for misconductBy The IJ Staff | September 10 2018 11:30AM
The Mutual Fund Dealers Association has fined an advisor a total of $100,000 plus costs of $7,500 after finding that two allegations of misconduct had been established, announced the regulator Sept. 5.
The allegations against Brenda Marie Douglas – a former Waterloo, Ontario-based advisor – included the misappropriation of $31,636.78 from a client, who is her father. She also failed to cooperate with the MFDA during the course of an investigation into her conduct, says the regulator.
In addition to the financial penalty, the MFDA permanently banned Douglas.
At the time of the misconduct, she conducted business in Waterloo, Ontario.
To learn more, consult the Notice of Hearing on the regulator’s website.