The Mutual Fund Dealers Association has itself a new head of enforcement. The MFDA announced the appointment of Shaun Devlin as its new director of enforcement in an internal e-mail distributed Monday.
Devlin will be joining the MFDA from Assante Corp., where he was vice president compliance. His term starts on April 7.
Devlin also spent four years as litigation counsel with the enforcement branch of the Ontario Securities Commission, two years as director of compliance at CIBC, three years as senior litigation counsel at the Pension Commission of Ontario and six years as discipline counsel at the Law Society of Upper Canada.
The MFDA parted ways with its first head of enforcement, Stephanie McManus, earlier this year.
The MFDA is in the early days of building its enforcement arm, and has only recently started compliance examinations and investigations. It likely won’t be embarking on its first enforcement action for some time.