MFDA Hearing Panel issues Reasons for Decision in the matter of Laurina Mahendran

TORONTO, June 20, 2019 /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 June 20, 2019 ("Reasons for Decision") in connection with a settlement hearing held in Toronto, Ontario on May 28, 2019 in the matter of Laurina Mahendran ("Respondent").

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

• shall pay a fine of $10,000, payable in instalments as follows:
• $400.00 on the date the Settlement Agreement is accepted; and
• $800.00 on the first day of each month from July 1, 2019 to June 1, 2020; and
• has paid costs of $2,500.

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 Scarborough, 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