September 13, 2017 (Toronto, Ontario) – The Mutual Fund Dealers Association of Canada (“MFDA”) commenced a disciplinary proceeding in respect of Stéphane Joseph Lamarre (“Respondent”) by Notice of Hearing dated September 2, 2016 (“Notice of Hearing”).
The hearing of this matter on its merits took place yesterday in Toronto, Ontario, before a three-person Hearing Panel of the MFDA’s Central Regional Council. Prior to the hearing, the parties filed an Agreed Statement of Facts (“Agreed Statement of Facts”) in which the Respondent admitted to facts constituting contraventions of MFDA By-laws, Rules or Policies, for which he could be penalized by a Hearing Panel pursuant to section 24.1 of MFDA By-law No. 1. In particular, the Respondent admitted that:
Allegation #1: Between September 16, 2013 and November 25, 2013, while registered as a dealing representative of a Member, he engaged in securities related business on behalf of another Member that he was not registered with, contrary to MFDA Rules 1.1.1 and 2.1.1.
Following submissions from the parties, the Hearing Panel reserved judgment with respect to penalty, and advised that it will issue its written decision and provide its reasons in due course.
Copies of the Agreed Statement of Facts and the Notice of Hearing are available on the MFDA website at www.mfda.ca. During the period described in the Agreed Statement of Facts, the Respondent carried on business in Ottawa, Ontario.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its Members and their approximately 83,000 Approved Persons with a mandate to protect investors and the public interest. For more information about the MFDA’s complaint and enforcement processes, as well as links to ‘Check an Advisor’ and other Investor Tools, visit the For Investors page on the MFDA website.