December 28, 2018 (Toronto, Ontario) – The Mutual Fund Dealers Association of Canada (“MFDA”) has commenced disciplinary proceedings in respect of Shaun David Collier (“Respondent”). In its Notice of Hearing dated December 14, 2018 (“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 about March 2006 and February 2017, the Respondent obtained, possessed, and in some instances, used to process transactions, 12 pre-signed account forms in respect of six clients, contrary to MFDA Rule 2.1.1.
Allegation #2: Between September 2009 and May 2011, the Respondent altered, and used to process transactions, seven account forms in respect of four clients by altering information on the account forms without having the clients initial the alterations, contrary to MFDA Rule 2.1.1.
Allegation #3: On or about January 12, 2010, the Respondent cut and pasted two client signatures from copies of account forms previously signed by two clients onto new account forms, and submitted the account forms for processing, contrary to MFDA Rule 2.1.1.
The first appearance in this proceeding will take place by teleconference before a Hearing Panel of the MFDA’s Central Regional Council on March 12, 2019 at 9:00 a.m. (Eastern), 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 matters. 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.
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 82,000 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.