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MFDA Hearing Panel issues Reasons for Decision in the matter of Qanoot Subzwari

TORONTO, May 13, 2022 (Canada NewsWire via COMTEX) --

A Hearing Panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada (the "MFDA") has issued its Reasons for Decision dated May 10, 2022 ("Reasons for Decision"), in connection with a settlement hearing held electronically by videoconference in Toronto, Ontario on March 7, 2022, in the matter of Qanoot Subzwari (the "Respondent").

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

    --  has been prohibited from conducting securities related business
        in any capacity while in the employ of or in association with a
        Member of the MFDA for a period of eighteen months, commencing
        on March 7, 2022;
    --  has paid a fine of $4,000;
    --  has paid costs of $2,500; and
    --  shall in the future comply with MFDA Rules 2.1.1 and 5.1(b).

A copy of the Reasons for Decision is available on the MFDA website at During the period described in the Reasons for Decision, the Respondent carried on business in Milton, Ontario.

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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SOURCE: Mutual Fund Dealers Association of Canada

Charles Toth, Vice-President, Enforcement, 416-943-4619,
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