MFDA Hearing Panel accepts settlement agreement with Zeleen Mitha

TORONTO, March 19, 2021 /CNW/ - A settlement hearing in the matter of Zeleen Mitha ("Respondent") was held today by electronic hearing before a three-member Hearing Panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA").

The Hearing Panel accepted the settlement agreement dated January 28, 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 fine in the amount of $5,000;
• costs in the amount of $2,500; and
• shall be prohibited for a period of 12 months from conducting securities related business in any capacity while in the employ of or associated with any MFDA Member.

In the Settlement Agreement, the Respondent admitted that:

a) On February 28, 2019, she sent emails from her business email address to her personal email address attaching documents containing confidential information of clients of the Member without the consent of the clients, thereby failing to maintain in confidence all information received by the Member relating to clients, contrary to the Member's policies and procedures and MFDA Rules 2.1.3, 2.1.1, 1.1.2 and 2.5.1; and

b) In or about February 2019, she altered her manager's written assessment of her performance on a performance review document, inserted the electronic initials of her manager and Regional Vice President on the performance review document without their knowledge or approval, and submitted the performance review to another financial institution in support of an application for employment, contrary to MFDA Rule 2.1.1.

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 out of 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 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