MFDA Hearing Panel accepts settlement agreement with Tyler Davidson

TORONTO, ON, July 12, 2021 /CNW/ - A settlement hearing in the matter of Tyler Weldon Davidson ("Respondent") was held by electronic hearing on July 8, 2021, before a three-member Hearing Panel of the Prairie Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA").

The Hearing Panel accepted the settlement agreement dated July 5, 2021 ("Settlement Agreement"), between Staff of the MFDA and the Respondent, as a consequence of which the following sanctions were imposed on the Respondent:

• a prohibition from conducting securities related business in any capacity while in the employ of or associated with any MFDA Member for a period of one month;
• a fine in the amount of $22,500; and
• costs in the amount of $5,000.

In the Settlement Agreement, the Respondent admitted that in or around September 2014, he recommended a trade in a mutual fund that unnecessarily subjected a client to a deferred sales charge schedule and generated commissions to himself, contrary to MFDA Rules 2.1.1, 2.1.4, and 2.2.1.

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 conducted business in Medicine Hat, Alberta.

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 80,000 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