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MFDA bans, fines former advisor $100K

By The IJ Staff | Dec. 4, 2019, 2:12 p.m.

The Mutual Fund Dealers Association of Canada has permanently banned and fined a former Investors Group advisor $100,000 plus costs of $7,500.

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MUTUAL FUND DEALERS ASSOCIATION OF CANADA (MFDA)

Repeat offender thrown out of the industry permanently

Firms, associations and reps weigh in on advisor compensation

Representative fined $125,000 and banned for accepting power of attorney

Representative switching firms fined $20,000 for 47 pre-signed forms

Disciplinary Decisions

Agency fined $20,000 for repeatedly allowing unlicensed activity

Mutual fund rep fined close to $1.7-million

Missing continuing education, lapsed liability insurance nets $4,000 fine

Firm fined $1.5 million for failing to supervise trading activity