MFDA makes findings against Michael Franco

By Staff | January 25, 2011 | Last updated on January 25, 2011
1 min read

The MFDA commenced a disciplinary proceeding in respect of Michael Franco by Notice of Hearing dated July 28, 2010.

The hearing of this matter on its merits took place today in Calgary, Alberta before a hearing panel of the MFDA’s Prairie Regional Council. The parties filed an agreed statement of facts prior to the hearing in which Mr. Franco admitted a number of facts which constitute misconduct on his part and for which he could be penalized by a hearing panel pursuant to MFDA By-laws.

Following submissions from the parties, the hearing panel imposed the following penalties on Mr. Franco and advised that it will issue written reasons for its decision in due course:

(a) a five (5) year suspension from conducting securities related business in any capacity over which the MFDA has jurisdiction;
(b) a fine in the amount of $40,000; and
(c) costs in the amount of $5,000.

A copy of the Notice of Hearing is available here and on the MFDA website at staff


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