January 9, 2019 (Toronto, Ontario) – The Mutual Fund Dealers Association of Canada (“MFDA”) commenced a disciplinary proceeding in respect of Ghassan Alathamna (“Respondent”) by Notice of Hearing dated February 16, 2018.
As the result of a settlement agreement entered into between Staff of the MFDA and the Respondent, the settlement hearing will take place on January 31, 2019, commencing at 10:00 a.m. (Eastern), or as soon thereafter as the matter can be heard, in the hearing room at the offices of the MFDA, located at 121 King Street, Suite 1000, Toronto, Ontario.
The subject matter of the proposed settlement agreement concerns matters for which the Respondent may be disciplined pursuant to ss. 20 and 24.1.1 of By-law No. 1 of the MFDA. In particular, the settlement agreement concerns the allegation that on or about October 3, 2016, the Respondent cut and pasted a client signature from an account form previously signed by the client onto two new account forms, and submitted the account forms for processing, contrary to MFDA Rule 2.1.1.
MFDA settlement hearings are typically held in the absence of the public pursuant to section 20.5 of MFDA By-law No. 1 and Rule 15.2(2) of the MFDA 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.
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.