MFDA Hearing Panel issues Reasons for Decision in the matter of Eileen Desgroseilliers

TORONTO, Aug. 21, 2018 /CNW/ - A Hearing Panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA") has issued its Reasons for Decision dated August 21, 2018 in connection with a disciplinary hearing held in Toronto, Ontario on May 24, 2018 in the matter of Eileen Marie Desgroseilliers ("Respondent").

In its Reasons for Decision, the Hearing Panel confirmed the sanctions imposed on the Respondent. In particular, the Respondent:

• is permanently prohibited from conducting securities related business in any capacity while in the employ of or associated with any MFDA Member;
• has been ordered to pay a fine in the amount of $75,000; and
• has been ordered to pay costs in the amount of $10,000.

A copy of the Reasons for Decision is available on the MFDA website at www.mfda.ca. During the period described in the Reasons for Decision, the Respondent conducted business in the Thunder Bay, 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 82,000 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