Canada: Mutual fund regulator imposes $8M in fines and costs against W.H. Stuart principals
17 May 2016

The Mutual Fund Dealers Association of Canada has issued fines and penalties totalling more than $8 million against two principals of now-defunct W.H. Stuart Mutuals Ltd. in relation to the misappropriation of millions of dollars of money from investors.

The penalties include a $7-million fine against Dianne Stuart as well as a fine of $1 million against her ex-husband, Walter Howard Stuart, both payable within 24 months, along with $50,000 in costs.

Both are also permanently prohibited from conducting securities related business in any capacity as an approved person of or in association with any MFDA member, and both are jointly and severally liable up to the amount of $1 million.

Advance your CPD minutes for this content, by signing up and using the CPD Wallet


You must be logged in to post a comment.

This site uses Akismet to reduce spam. Learn how your comment data is processed.