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
Winston King-Loong Kuit
NOTICE is hereby given that a first appearance will take place by teleconference before a hearing panel of the Pacific 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 650 West Georgia Street, Suite 1220, Vancouver, British Columbia on March 14, 2017 at 10:00 a.m. (Pacific), or as soon thereafter as the hearing can be held, concerning a disciplinary proceeding commenced by the MFDA against Winston King-Loong Kuit (the “Respondent”).
DATED: Feb 6, 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 2010 and August 2013, the Respondent recommended, sold, referred or facilitated the sale of approximately $1.55 million of an unapproved investment to seven (7) clients, seven (7) former clients and four (4) other individuals, outside the facilities of his Members, contrary to MFDA Rules 1.1.1 and 2.1.1.
Allegation #2: Between 2010 and August 2013, the Respondent recommended, sold, referred or facilitated the sale of approximately $1.55 million of an unapproved investment to seven (7) clients, seven (7) former clients and four (4) other individuals, thereby engaging in an outside business activity which was not disclosed to or approved by his Members, contrary MFDA Rules 1.2.1(c) (now MFDA Rule 1.3), 2.4.2 and 2.1.1.
Allegation #3: In November 2012, the Respondent completed an annual compliance questionnaire for his Member which contained responses that were false, thereby interfering with the Member’s ability to supervise his conduct, contrary to MFDA Rule 2.1.1.