Sales rep fined for unauthorized online trading

The MFDA approved a settlement hearing in the matter of Ahsan Hanif Ladha, a former mutual fund salesperson at TD Investment Services.

He admitted that between June 2009 and June 2010, he engaged in unauthorized online securities trading. As stated in the agreement, in two separate cases Ladha obtained client passwords and personally conducted their trades.

As a result, Ladha:

• is prohibited from conducting securities-related business while in the employ of, or associated with, any MFDA member for 24 months;
• has paid costs in the amount of $2,500; and
• shall in the future comply with all MFDA by-laws, rules and policies, and all applicable securities legislation and regulations made thereunder, including MFDA Rule 1.1.1.

Staff

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