The Mutual Fund Dealers Association of Canada (MFDA) announced June 6 that Christopher Martin Alfred Lee has been sanctioned with a permanent ban and fined $1,463,400 plus costs of $13,100 for misconduct.

A Hearing Panel of the MFDA's Central Regional Council found that “commencing on at least July 28, 2012, the respondent misappropriated or failed to account for, approximately $1,363,400 solicited or received from at least twelve clients and seven individuals…”

During the time the misconduct occurred, Lee conducted business in the Nepean, Ontario area.