release-SA201557
For further information, please contact:
NEWS RELEASE
For immediate release
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Charles Toth |
Jeff Mount |
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Director, Litigation |
Vice-President, Pacific Region |
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416-943-4619 |
604-694-8846 |
MFDA Hearing Panel accepts settlement agreement in the matter of Brian Blundell
May 13, 2016 (Toronto, Ontario) – A settlement hearing in the matter of Brian Blundell (the “Respondent”) was held on May 12, 2016 in Vancouver, British Columbia before a three- member Hearing Panel of the Pacific Regional Council of the Mutual Fund Dealers Association of Canada (“MFDA”). The Hearing Panel accepted the settlement agreement (the “Settlement Agreement”) between Staff of the MFDA and the Respondent, as a consequence of which the Respondent:
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• has paid a fine in the amount of $10,000;
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• has paid costs in the amount of $1,000; and
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• in future shall comply with all MFDA By-laws, Rules and Policies and all applicable securities legislation and regulations made thereunder including MFDA Rule 11.2, 2.11 and 2.5.1.
In the Settlement Agreement, the Respondent admitted that:
(a) between March 2010 and May 2014, he obtained, maintained and used to process redemptions ten (10) pre-signed account forms in respect of three (3) clients, contrary to MFDA Rule 2.1.1; and
(b) between 2010 and 2014, he mislead the Member by affirming that he did not obtain or possess any pre-signed account forms when completing Woridsource’s Annual Registration Renewal Questionnaire contrary to MFDA Rule 2.1.1.
A copy of the Settlement Agreement is available on the MFDA website at www.mfda.ca. During the period described in the Settlement Agreement, the Respondent carried on business in the Vancouver, 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
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.
DM 483219 v1
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