A disciplinary hearing in the matter of Carmel Toussaint was held today in Toronto, Ontario before a three-member hearing panel of the MFDA’s Central Regional Council.

An agreed statement of facts was filed prior to the hearing in which the respondent admitted to all the facts and allegations set out in the notice of hearing dated December 22, 2010.

The hearing panel made the following orders at the conclusion of the hearing and advised that it would issue written reasons for its decision in due course:

  • the respondent is permanently prohibited from conducting any securities related business in any capacity while in the employ of or associated with any MFDA Member;
  • the respondent shall pay a fine in the amount of $10,000; and
  • the respondent shall pay costs in the amount of $2,500.

To read the notice of hearing, click here.