Notice of Settlement Hearing

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File No. 2016111

Re: Annaji Kumar

NOTICE OF SETTLEMENT HEARING

NOTICE is hereby given that a hearing will be held 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 offices of the MFDA, located at 121 King Street West, Suite 1000, Toronto, Ontario on April 27, 2017 at 10:00 a.m. (Eastern), or as soon thereafter as the matter can be heard, to consider whether, pursuant to section 24.4 of By-law No. 1 of the MFDA, the Hearing Panel should accept the settlement agreement (the “Settlement Agreement”) entered into between Staff of the MFDA and Annaji Kumar (the “Respondent”). The subject matter of the proposed Settlement Agreement concerns matters for which the Respondent may be disciplined as an Approved Person of the MFDA, pursuant to ss. 20 and 24.1.1 of By-law No. 1 of the MFDA.

PARTICULARS

  1. The proposed settlement agreement concerns the allegations that:
    1. on or about June 19, 2015, the Respondent falsified a client signature on an account form, contrary to MFDA Rule 2.1.1;
    2. between 2004 and June 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 obtaining client initials authorizing the alterations, contrary to MFDA Rule 2.1.1;
    3. between 2004 and June 2015, the Respondent obtained, possessed, and used to process transactions, 2 pre-signed account forms in respect of 2 clients, contrary to MFDA Rule 2.1.1; and
    4. between October 2009 and June 2015, acting in his capacity as branch manager, the Respondent reviewed and approved the use of an account form containing a falsified client signature, a falsified account form, and a pre-signed account form, contrary to MFDA Rules 2.5.5(f)[1] and 2.1.1.
  1. The hearing is open to the public, unless and to the extent that the Hearing Panel determines that all or part of the hearing should proceed in the absence of the public. If the Hearing Panel accepts the Settlement Agreement, then copies of the decision of the Hearing Panel and the Settlement Agreement will be made available to the public.

[1] Prior to September 2013, the Respondent’s conduct violated MFDA Rule 2.5.5(d).

DATED: Dec 15, 2016

"Sarah Rickard"

Sarah Rickard

Director of Regional Councils

Mutual Fund Dealers Association of Canada
121 King St. West, Suite 1000
Toronto, ON M5H 3T9
Telephone: 416-945-5143
Fax: 416-361-9781
E-mail: corporatesecretary@mfda.ca

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