October 26, 2020 (Toronto, Ontario) – The Mutual Fund Dealers Association of Canada (“MFDA”) has commenced disciplinary proceedings in respect of Jason Martineau (“Respondent”). In its Notice of Hearing dated October 5, 2020 (“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 May 4, 2018 and June 28, 2018, the Respondent signed the signature of a client on 3 forms relating to transferring the commuted value of a client’s pension to an account at the Member, and submitted them to the Member for processing, contrary to MFDA Rule 2.1.1.
Allegation #2: Between May 4, 2018 and June 28, 2018, the Respondent altered or completed 4 forms relating to transferring the commuted value of a client’s pension to an account at the Member, without the client’s knowledge or authorization, and submitted the forms to the Member for processing, contrary to MFDA Rule 2.1.1.
Allegation #3: Commencing on April 30, 2018, the Respondent failed to inform or misled a client about the circumstances of the transfer of the commuted value of her pension to the Member, contrary to MFDA Rule 2.1.1.
Allegation #4: On June 27, 2018 and on August 20, 2018, the Respondent made false or misleading statements to the Member during the course of investigations into his conduct, contrary to MFDA Rule 2.1.1.
Allegation #5: Commencing on February 22, 2019, the Respondent made false or misleading statements to MFDA Staff during the course of an investigation into his conduct, 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 December 8, 2020 at 10:00 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 issues. 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 firstname.lastname@example.org to obtain particulars.
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 carried on business at a branch located in Sudbury, Ontario.
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 81,000 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.