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
Sarah Solis Maria Suzarah Del Rosario
NOTICE is hereby given that a first appearance will take place by teleconference before a hearing panel of the Central Regional Council (“Hearing Panel”) of the Mutual Fund Dealers Association of Canada (“MFDA”) in the hearing room at the MFDA offices, located at 121 King Street West, Suite 1000, Toronto, Ontario on November 30, 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 Sarah Solis Maria Suzarah Del Rosario (“Respondent”).
DATED: May 12, 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: On or about April 24, 2014, the Respondent failed to ensure that a trade in a client account was suitable for the client having regard to the essential Know-Your-Client (“KYC”) factors, including the client’s time horizon and investment objectives, contrary to MFDA Rules 2.2.1 and 2.1.1.
Allegation #2: On or about April 24, 2014, the Respondent processed a trade in a client account without obtaining client instructions in respect of the mutual fund to be purchased, thereby engaging in discretionary trading, contrary to MFDA Rules 2.3.1 and 2.1.1.