MFDA announces disciplinary proceeding in respect of Richard Giuliani
November 10, 2017 (Toronto, Ontario) – The Mutual Fund Dealers Association of Canada (“MFDA”) has commenced disciplinary proceedings in respect of Richard Kenneth Giuliani (“Respondent”). In its Notice of Hearing dated October 9, 2017 (“Notice of Hearing”), Staff of the MFDA alleges that the Respondent engaged in the following conduct contrary to the By-laws, Rules and/or Policies of the MFDA:
Allegation #1: Between September 29, 2006 and December 14, 2015, the Respondent had and continued in a dual occupation which was not disclosed to and approved by the Member by acting as Co-Executor and Co-Trustee of LC’s estate and receiving compensation for these activities, contrary to MFDA Rules 1.2.1(c) (formerly MFDA Rule 1.2.1(d) and now MFDA Rule 1.3) and 2.1.1.
Allegation #2: Between March 19, 2008 and April 23, 2010, the Respondent accepted and acted upon appointments as Co-Executor and Co-Trustee in respect of six accounts which the Respondent opened at the Member for LC’s grandchildren, contrary to MFDA Rules 2.1.4, 2.3.1 and 2.1.1.
Allegation #3: Between September 2, 2009 and April 23, 2010, the Respondent failed to comply with the Member’s instruction that he was not permitted to act as a Trustee in respect of accounts at the Member, contrary to MFDA Rule 2.1.1.
Allegation #4: In December 2010, the Respondent failed to notify the Member, within two (2) business days that he was named as a Respondent in a Notice of Application, contrary to MFDA Policy No. 6.
The first appearance in this proceeding will take place by teleconference before a Hearing Panel of the MFDA’s Central Regional Council on December 11, 2017 at 1:00 p.m. (Eastern), or as soon thereafter as the appearance can be held, in order to schedule a date for the commencement of the hearing on the merits and to address any other procedural matters. The appearance will be open to the public, except as may be required for the protection of confidential matters.
A copy of the Notice of Hearing is available on the MFDA website at www.mfda.ca. During the period described in the Notice of Hearing, the Respondent conducted business in the Burlington, Ontario area.
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.