A Hearing Panel of the Pacific Regional Council of the Mutual Fund Dealers Association of Canada has issued its Reasons for Decision and confirmed sanctions imposed on David Michael Gordon, announced the MFDA in a Dec. 6 statement.
In its Reasons for Decision, the Hearing Panel confirmed the sanctions imposed on the Respondent. In particular, Gordon is permanently prohibited from conducting securities related business while in the employ or associated with an MFDA member. He has also been sanctioned with a $25,000 fine.
According to the settlement agreement, between November 2009 and May 2016 when Gordon retired, he recommended an investment strategy, known as the Gold Strategy in MFDA documents, to at least six of his clients, without regard for the clients’ ages or their know-your-client (KYC) information. Consult this article to learn more.
