IN THE MATTER OF A DISCIPLINARY HEARING PURSUANT TO SECTIONS 20 AND 24 OF BY-LAW NO. 1 OF THE MUTUAL FUND DEALERS ASSOCIATION OF CANADA
James Edward Curtis
Amended NOTICE OF HEARING
NOTICE is hereby given that a first appearance will take place by teleconference before a hearing panel of the Central Regional Council (the “Hearing Panel”) of the Mutual Fund Dealers Association of Canada (the “MFDA”) in the hearing room at the MFDA offices, located at 121 King Street West, Suite 1000, Toronto, Ontario on January 26, 2017 at 9:00 a.m. (Eastern), or as soon thereafter as the hearing can be held, concerning a disciplinary proceeding commenced by the MFDA against James Edward Curtis (the “Respondent”).
DATED: Mar 15, 2017
Assistant Corporate Secretary
Mutual Fund Dealers Association of Canada
121 King St. West, Suite 1000
Toronto, ON M5H 3T9
NOTICEis further given that the MFDA alleges the following violations of the By-laws, Rules or Policies of the MFDA:
Allegation #1: Between about January and April 2014, the Respondent failed to follow a series of compliance directives from the Member requiring the Respondent to reassess the suitability of his recommendations to clients to hold 100% of their investments in a single precious metal sector fund and, where appropriate, make recommendations to reduce the clients’ concentration in the fund, contrary to MFDA Rules 2.2.1 and 2.1.1.
Allegation #2: Between about January and April 2014, the Respondent arranged for at least 75 clients to complete updated Know-Your-Client (“KYC”) forms which increased the clients’ risk tolerance, in order to ensure that the clients’ KYC information matched his recommendations to hold 100% of their investments in a single precious metal sector fund, contrary to MFDA Rules 2.2.1 and 2.1.1.