MFDA suspends W.H. Stuart

The Mutual Fund Dealers of Canada (MFDA) has suspended the membership of Markham, Ont.-based W. H. Stuart Mutuals Ltd.

Back in May, the MFDA ordered the fund dealer to halt all public transactions because the firm was likely to become undercapitalized.

A hearing panel suspended the firm following submissions on May 31 from MFDA staff and counsel for Marilyn Stuart, part owner of W.H. Stuart.

The hearing panel said it will issue written reasons for its decisions in due course and adjourned the proceeding indefinitely.

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