NewsReleaseBarryJamesColeman
For further information, please contact:
Shaun Devlin Vice-President, Enforcement (416) 943-4672 or [email protected]
NEWS RELEASE
For immediate release
MFDA Issues Notice of Hearing regarding Barry James Coleman
January 3, 2006 (Toronto, Ontario) – The Mutual Fund Dealers Association of Canada (MFDA) today announced that it has commenced disciplinary proceedings against Barry James Coleman.
MFDA staff alleges in its Notice of Hearing that Mr. Coleman engaged in the following conduct contrary to the By-laws, Rules or Policies of the MFDA:
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• Allegation # 1: Between August 2004 and January 2005, the Respondent misappropriated from two clients the sum of $28,250, more or less, and thereby failed to deal fairly, honestly and in good faith with a client, contrary to MFDA Rule 2.1.1.
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• Allegation # 2: Between August 2004 and January 2005, the Respondent performed a series of unauthorized redemptions from a client, totaling $31,400, more or less, and thereby failed to deal fairly, honestly and in good faith with a client, contrary to MFDA Rule 2.1.1.
The first appearance in this matter will take place by teleconference before a Hearing Panel of the MFDA Atlantic Regional Council in the Hearing Room located at Barrister’s Library, 770 Main Street, Room A-100, Moncton, New Brunswick on Wednesday, February 8, 2006 at 11:00 a.m. (Atlantic time) or as soon thereafter as can be held.
The purpose of the first appearance is to schedule the date for the commencement of the hearing on its merits and to schedule any other procedural matters.
The hearing is open to the public, except as may be required for the protection of confidential matters. Members of the public attending the hearing will be able to listen to the proceeding by teleconference.
A copy of the Notice of Hearing is available on the MFDA web site at www.mfda.ca.
The Mutual Fund Dealers Association of Canada is the self-regulatory organization for Canadian mutual fund dealers. The MFDA regulates the operations, standards of practice and business conduct of its 177 members and their approximately 75,000 Approved Persons with a mandate to protect investors and the public interest.
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