April 19, 2023 (Toronto, Ontario) – The Mutual Fund Dealers Association of Canada (“MFDA”), now New Self-Regulatory Organization of Canada (“New SRO”), commenced a disciplinary proceeding in respect of Charles Leigh Hogg (the “Respondent”) by Notice of Hearing dated September 6, 2022 (the “Notice of Hearing”).
As the result of a settlement agreement entered into between Staff of the New SRO and the Respondent, a settlement hearing will take place electronically by videoconference before a Hearing Panel of the New SRO’s Ontario District Hearing Committee on May 16, 2023, commencing at 10:00 a.m. (Eastern), or as soon thereafter as the matter can be held. Members of the public who would like to obtain further particulars should contact [email protected].
The subject matter of the proposed settlement agreement concerns matters for which the Respondent may be disciplined pursuant to Rules 7.3 and 188.8.131.52 of the Mutual Fund Dealer Rules. In particular, the settlement agreement concerns the allegations that the Respondent:
- on or about April 1, 2019 and May 27, 2019, provided login credentials to third parties to enable them to access the Member’s system containing confidential client information, without the knowledge or consent of the Member, contrary to MFDA Rules 2.1.3 and 2.1.1 (now Mutual Fund Dealer Rules 2.1.3 and 2.1.1); and
- between about April 2019 and June 2019, sent, or arranged to send, confidential client information to a third party, without the prior consent of the clients, contrary to the Member’s policies and procedures and MFDA Rules 2.1.3, 2.1.1 and 1.1.2 (as it relates to Rule 2.5.1) (now Mutual Fund Dealer Rules 2.1.3, 2.1.1 and 1.1.2 (as it relates to Rule 2.5.1)).
Settlement hearings of the New SRO are typically held in the absence of the public pursuant to Mutual Fund Dealer Rule 7.3.5 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 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 Kitchener, Ontario area.
New Self-Regulatory Organization of Canada is the national self-regulatory organization that oversees all investment dealers, mutual fund dealers and trading activity on Canada’s debt and equity marketplaces. New SRO is carrying on the regulatory functions of the Investment Industry Regulatory Organization of Canada and the Mutual Fund Dealers Association of Canada, and is committed to the protection of investors, providing efficient and consistent regulation, and building Canadians’ trust in financial regulation and the people managing their investments. For more information, visit www.newselfregulatoryorganizationofcanada.ca.