- MFDA Releases Status Report on Payment of Fines
- December 5, 2014
- Law Firm: Borden Ladner Gervais LLP - Toronto Office
The MFDA has started to release the status of unpaid fines for all respondents ordered to pay fines by MFDA Hearing Panels. On the MFDA website, there is now a column under “Completed Cases” which indicates whether an Order Payment Status is paid or unpaid.
In its 2014 fiscal year, MFDA Hearing Panels levied fines against Approved Persons who are currently registered totaling $54,500, all of which have been collected. Hearing Panels imposed fines of $3,642,500.00 against Approved Persons who are no longer registered, of which $51,000.00 has been collected.
The status of fine payments can now be found at http://www.mfda.ca/enforcement/complete.html. These figures will be updated quarterly, on an ongoing basis.