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
Heather Nicola Churchill
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 (“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 April 25, 2018 at 9:30 a.m. (Eastern), or as soon thereafter as the hearing can be held, concerning a disciplinary proceeding commenced by the MFDA against Heather Nicola Churchill (“Respondent”).
DATED: Feb 13, 2018
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 April 4, 2016, the Respondent processed two switches totaling approximately $297,407.35 in the investment accounts of client JB without the knowledge or authorization of the client, thereby engaging in unauthorized discretionary trading, contrary to MFDA Rules 2.3.1(a) and 2.1.1, and the policies and procedures of the Member.
Allegation #2: On or about April 5, 2016, the Respondent falsely reported to her Branch Manager, in response to the Branch Manager’s supervisory inquiries, that client JB had authorized two switches totaling approximately $297,407.35 in the investment accounts of client JB, contrary to MFDA Rules 1.1.2, 2.5.1 and 2.1.1.