December 6, 2022 (Toronto, Ontario) – The Mutual Fund Dealers Association of Canada (the “MFDA”) has commenced disciplinary proceedings in respect of Alvinder Singh Gill (the “Respondent”). In its Notice of Hearing dated November 11, 2022 (the “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 March 9, 2016 and October 20, 2020, the Respondent misappropriated or failed to account for monies that he received from individuals, contrary to MFDA Rule 2.1.1.
Allegation #2: Between March 9, 2016 and August 26, 2020, the Respondent made false or misleading statements and provided fictitious account documents to individuals which misrepresented that he had invested the individuals’ monies, contrary to MFDA Rule 2.1.1.
Allegation #3: Between March 9, 2016 and October 20, 2020, the Respondent engaged in unapproved outside activities, contrary to the Member’s policies and procedures, and MFDA Rules 1.3.2 (formerly 1.2.1(c)), 2.1.1 and 1.1.2 (as it relates to MFDA Rule 2.5.1).
Allegation #4: Commencing in approximately November 2020, the Respondent failed to cooperate with an investigation by MFDA Staff into his conduct, contrary to section 22.1 of MFDA By-law No. 1.
The first appearance in this proceeding will take place by teleconference before a Hearing Panel of the MFDA’s Pacific Regional Council on January 17, 2023 at 10:00 a.m. (Pacific), 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 issues. The appearance will be open to the public, except as may be required for the protection of confidential matters. Members of the public who would like to listen to the teleconference should contact email@example.com to obtain particulars.
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 Abbotsford, British Columbia 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 76,695 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.