Ex-fund rep misappropriated client money and disappeared
Regulators are also forming a new advisory committee to review SRO consolidation
The OSC and the MFDA team up in case against fund rep
It remains up to regulators to act on long-standing recommendation
Appointees will join new SRO's disciplinary committees
The Canadian Securities Administrators have also launched a consultation on the new regulator's interim rules
Interim rules coming in May, with new CEO, board to be named in Q2
A panel found the MFDA's suspension was unreasonable and disproportionate for a minor violation
Majority dismisses appeal, rejects proposed class action
The CSA is seeking six industry directors and eight independent directors for the board