June 26, 2023 (Toronto, Ontario) – The Mutual Fund Dealers Association of Canada (“MFDA”), now Canadian Investment Regulatory Organization (“CIRO”), commenced a disciplinary proceeding in respect of Roxanne Marie Carter (the “Respondent”) by Notice of Hearing dated December 22, 2022 (“Notice of Hearing”).
As the result of a settlement agreement entered into between Staff of CIRO and the Respondent, a settlement hearing will take place electronically by videoconference before a Hearing Panel of CIRO’s Ontario District Hearing Committee on June 27, 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 sections 20 and 24.1 of MFDA By-law No. 1 (now Mutual Fund Dealer Rules 7.3 and 7.4.1). In particular, the settlement agreement concerns the allegations that:
- between December 2019 and February 2020, the Respondent altered, and used to process transactions, three account forms in respect of two clients by altering information on the account forms without having the client initial the alterations, contrary to MFDA Rule 2.1.1 (now Mutual Fund Dealer Rule 2.1.1): and
- between January 2016 and March 2019, the Respondent obtained and possessed, and used to process transactions, 35 pre-signed account forms in respect of three clients, contrary to MFDA Rule 2.1.l (now Mutual Fund Dealer Rule 2.1.1).
Settlement hearings of CIRO are typically held in the absence of the public pursuant to section 20.5 of MFDA By-Law No. 1 (now Mutual Fund Dealer Rule 7.3.5) and Rule 15.2 (2) of the Mutual Fund Dealer 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.
Canadian Investment Regulatory Organization is the national self-regulatory organization that oversees all investment dealers, mutual fund dealers and trading activity on Canada’s debt and equity marketplaces. CIRO 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.ciro.ca.