October 4, 2022 (Toronto, Ontario) – The Mutual Fund Dealers Association of Canada (“MFDA”) commenced a disciplinary proceeding in respect of Stephen Scott Smockum (“Respondent”) by Notice of Hearing dated September 20, 2021, as amended on September 23, 2022 (“Amended Notice of Hearing”).
The hearing of this matter on its merits was held electronically by videoconference on September 23, 2022 in Toronto, Ontario before a three-member Hearing Panel of the MFDA’s Central Regional Council. After receiving the evidence and hearing submissions by the parties with respect to misconduct and penalty, the Hearing Panel reserved its judgment and advised that it will issue its decision and written reasons in due course.
Prior to the commencement of the hearing on September 23, 2022, Staff of the MFDA brought a motion to amend the Notice of Hearing. Following submissions by the parties, the Hearing Panel granted Staff’s motion.
A copy of the Amended Notice of Hearing is available on the MFDA website at www.mfda.ca. During the period described in the Amended Notice of Hearing, the Respondent carried on business in the Norwood, Ontario 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.