MFDA Hearing Panel accepts settlement agreement with Leonard Coronel

TORONTO, June 26, 2020 /CNW/ - A settlement hearing in the matter of Leonard Coronel ("Respondent") was held on June 25, 2020 in Toronto, Ontario by electronic hearing before a three-member Hearing Panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA").

The Hearing Panel accepted the settlement agreement dated May 28, 2020 ("Settlement Agreement") between Staff of the MFDA and the Respondent, as a consequence of which the following sanctions were imposed on the Respondent:

• a suspension from conducting securities related business in any capacity while in the employ of or associated with any Member of the MFDA for a period of nine months;
• a fine in the amount of $2,500, payable in instalments as follows:
• $400 on or before July 31, 2020;
• $400 on or before August 31, 2020;
• $400 on or before September 30, 2020;
• $400 on or before October 30, 2020;
• $400 on or before November 30, 2020; and
• $500 on or before December 30, 2020;
• costs in the amount of $2,500; and
• shall in future comply with MFDA Rule 2.1.1.

In the Settlement Agreement, the Respondent admitted that:

A copy of the Settlement Agreement is available on the MFDA website at www.mfda.ca. During the period described in the Settlement Agreement, the Respondent carried on business in the Toronto, 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 81,000 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