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
Re: Mark Lawrence Jennings
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 May 25, 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 Mark Lawrence Jennings (the “Respondent”).
DATED: Jan 26, 2017
Director of Regional Councils
Mutual Fund Dealers Association of Canada
121 King St. West, Suite 1000
Toronto, ON M5H 3T9
NOTICE is further given that the MFDA alleges the following violations of the By-laws, Rules or Policies of the MFDA:
Allegation #1: Between October 2002 and October 2014, the Respondent, or his assistants for whom he was responsible, obtained, possessed, and in some instances, used to process transactions, 25 pre-signed account forms in respect of 11 clients, contrary to MFDA Rule 2.1.1.
Allegation #2: Between August 25, 2011 and June 19, 2015, the Respondent falsified and used to process transactions, 2 account forms in respect of 2 clients, by altering information on the account forms without having the clients initial the alterations, contrary to MFDA Rule 2.1.1.
Allegation #3: On or about January 17, 2014, on one occasion, the Respondent accepted cash from clients and used the cash to purchase bank drafts to invest in mutual funds on the clients’ behalf, thereby failing to comply with the Member’s policies and procedures, contrary to MFDA Rules 1.1.2, 2.5.1, and 2.1.1.
Allegation #4: Between February 2015 and December 2015, the Respondent failed to keep adequate records of 11 transactions, thereby failing to comply with the Member’s policies and procedures, contrary to MFDA Rules 1.1.2, 2.5.1, and 2.1.1.