TORONTO, Oct. 28, 2021 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") commenced a disciplinary proceeding in respect of Derek Jarod Targerson ("Respondent") by Notice of Hearing dated January 4, 2021.
On September 1, 2021, following a disciplinary hearing, the Hearing Panel imposed the following sanctions on the Respondent:
a fine ("Fine") in the amount of $7,500;
costs ("Costs") in the amount of $2,500; and
the Fine and Costs are to be paid on a time schedule worked out by the parties.
An appearance was held by electronic hearing on October 28, 2021, where the parties made submissions to the Hearing Panel with respect to setting out a payment schedule for the Fine and Costs. The Hearing Panel has ordered that the Fine and Costs be paid by the Respondent by no later than September 1, 2022, and advised that it will issue its written reasons in due course.
Copies of the Notice of Hearing and the Agreed Statement of Facts are available on the MFDA website at www.mfda.ca. During the period described in the Agreed Statement of Facts, the Respondent carried on business in the Swift Current, Saskatchewan 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 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
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