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MFDA issues Notice of Settlement Hearing in respect of William Richardson
September 18, 2015 (Toronto, Ontario) – The Mutual Fund Dealers Association of Canada (“MFDA”) announced that it has issued a Notice of Settlement Hearing regarding the presentation, review and consideration of a proposed settlement agreement by a Hearing Panel of the MFDA’s Central Regional Council.
The settlement agreement will be between Staff of the MFDA and William Robert Charles Richardson (the “Respondent”) and involves matters for which the Respondent may be disciplined by a Hearing Panel pursuant to MFDA By-laws. The proposed settlement agreement concerns allegations that between January 2010 and December 2014, the Respondent:
a) obtained and possessed 13 blank pre-signed account forms in respect of 10 clients contrary to MFDA Rule 2.1.1; and b) failed to accurately respond to Investors Group’s Annual Attestations by incorrectly affirming that he did not obtain or possess any pre-signed forms contrary to MFDA Rule 2.1.1.
The settlement hearing is scheduled to take place on September 24, 2015, commencing at 10:00 a.m. (Eastern), or as soon thereafter as the hearing can be held, in the hearing room at the MFDA offices, located at 121 King Street West, Suite 1000, Toronto, Ontario. The hearing will be open to the public, unless and to the extent that the Hearing Panel determines that all or part of the hearing should proceed in the absence of the public. If the Hearing Panel accepts the settlement agreement, then a copy of the decision of the Hearing Panel and the settlement agreement will be made available to the public.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 103 Members and their over 80,000 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.
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