TORONTO, June 25, 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 25, 2019 ("Reasons for Decision") in connection with a disciplinary hearing held in Toronto, Ontario on February 1, 2019 in the matter of Rafal Rosicki ("Respondent").

As previously announced, the Hearing Panel made the following findings of misconduct against the Respondent:

At the hearing on February 1, 2019, the parties made submissions with respect to penalty and the Hearing Panel reserved its decision. In its Reasons for Decision, the Hearing Panel has imposed the following sanctions on the Respondent:

• a permanent prohibition from conducting securities related business in any capacity while in the employ of, or in association with, any MFDA Member;
• a fine in the amount of $25,000; and
• costs in the amount of $7,000.

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 Toronto, 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

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