MFDA Hearing Panel issues Reasons for Decision in the matter of Gerald Raymond Letourneau

TORONTO, Dec. 10, 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 December 7, 2018 ("Reasons for Decision") in connection with a settlement hearing held in Toronto, Ontario on September 27, 2018 in the matter of Gerald Raymond Letourneau ("Respondent").

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

• has paid a fine of $16,000;
• has paid costs of $2,500; and
• shall in the future comply with MFDA Rule 2.1.1.

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 carried on business in the Niagara Falls, 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