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MFDA announces disciplinary proceeding in respect of Ryan Corcoran

For further information, please contact:

Charles Toth
Vice President, Enforcement

MFDA announces disciplinary proceeding in respect of Ryan Corcoran

April 24, 2018 (Toronto, Ontario) – The Mutual Fund Dealers Association of Canada (“MFDA”) has commenced disciplinary proceedings in respect of Ryan Russell Gerard Corcoran (“Respondent”). In its Notice of Hearing dated March 29, 2018, 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: On or about November 4, 2015, the Respondent processed trades in the account of a client without the client’s knowledge or authorization, thereby engaging in unauthorized discretionary trading, contrary to MFDA Rules 2.3.1 and 2.1.1.

Allegation #2: On or about November 4, 2015, the Respondent processed purchases of mutual funds in the account of a client which were subject to deferred sales charges, without informing the client that he might be required to pay a deferred sales charge on the subsequent sale of the securities and the fee schedule that would apply, contrary to MFDA Rules 2.4.4 and 2.1.1.

Allegation #3: In November 2015, the Respondent obtained and/or maintained 11 blank pre-signed account forms for four client accounts, thereby failing to observe high standards of ethics and conduct in the transaction of business and engaging in conduct unbecoming an Approved Person, contrary to MFDA Rule 2.1.1.

The first appearance in this proceeding will take place by teleconference before a Hearing Panel of the MFDA’s Central Regional Council on May 28, 2018 at 10:00 a.m. (Eastern), or as soon thereafter as the appearance can be held, 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 During the period described in the Notice of Hearing, the Respondent conducted business in Laval, Quebec.

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 82,000 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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