January 16, 2017 (Toronto, Ontario) – The Mutual Fund Dealers Association of Canada (“MFDA”) today announced that it has issued a Notice of Settlement Hearing regarding the presentation, review and consideration of a proposed settlement agreement by a Hearing Panel of the MFDA’s Prairie Regional Council.
The settlement agreement will be between Staff of the MFDA and Thuy Nhu Nguyen (the “Respondent”) and involves matters for which the Respondent may be disciplined by a Hearing Panel pursuant to MFDA By-laws. The subject matter of the proposed settlement agreement concerns allegations that:
- between January 2009 and June 2015, the Respondent obtained, possessed, and in some instances, used to process transactions, 16 pre-signed account forms in respect of nine (9) clients, contrary to MFDA Rule 2.1.1; and
- in April 2015, the Respondent falsified one (1) account form in respect of two (2) clients by altering information on the account form without having the clients initial the alterations, contrary to MFDA Rule 2.1.1.
The settlement hearing is scheduled to take place on February 28, 2017, commencing at 10:00 a.m. (Mountain), or as soon thereafter as the matter can be held, in the hearing room at the Renaissance Edmonton Airport Hotel, located at 4236 36th Street East, Edmonton, Alberta. The proceeding will be open to the public, except as may be required for the protection of confidential matters.
MFDA settlement hearings are typically held in the absence of the public pursuant to section 20.5 of MFDA By-law No. 1 and Rule 15.2(2) of the MFDA Rules of Procedure. If the Hearing Panel accepts the settlement agreement, then the proceeding will become open to the public and a copy of the decision of the Hearing Panel and the settlement agreement will be made available at www.mfda.ca.
A copy of the Notice of Settlement Hearing is available on the MFDA website at www.mfda.ca. During the period described in the Notice of Settlement Hearing, the Respondent carried on business in Edmonton, Alberta.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its Members and their approximately 83,000 Approved Persons with a mandate to protect investors and the public interest. For more information about the MFDA’s complaint and enforcement processes, as well as links to ‘Check an Advisor’ and other Investor Tools, visit the For Investors page on the MFDA website.
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