The Mutual Fund Dealers Association of Canada (MFDA) announced April 27 that it has made findings of misconduct against Nathan Eric Breukelman.

A disciplinary hearing held in Toronto last week found that between November 26, 2014 and April 21, 2015, Breukelman misappropriated a total of $28,889.45 from a client. Secondly, he failed to cooperate with an investigation by MFDA staff into his conduct.

For this misconduct, the panel has sanctioned Breukelman with a permanent prohibition on conducting securities related business over which the MFDA has jurisdiction. The panel also fined him $125,000, plus costs in the amount of $7,500.

At the time of the misconduct, Breukelman conducted business in the Thunder Bay, Ontario area.