May 10, 2022 (Toronto, Ontario) – The Mutual Fund Dealers Association of Canada (“MFDA”) commenced a disciplinary proceeding in respect of Erich Gilles Juillet (the “Respondent”) by Notice of Hearing dated September 23, 2021 (“Notice of Hearing”).
As the result of a settlement agreement entered into between Staff of the MFDA and the Respondent, a settlement hearing will take place electronically by videoconference before a Hearing Panel of the MFDA’s Central Regional Council on June 28, 2022, commencing at 10:00 a.m. (Eastern), or as soon thereafter as the matter can be held. Members of the public who would like to obtain further particulars should contact firstname.lastname@example.org.
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 allegations that the Respondent:
- on or about February 6, 2018, failed to notify the Member of a transactional error in the handling of a client account, contrary to the Member’s policies and procedures and MFDA Rules 1.1.2, 2.5.1 and 2.1.1;
- between on or about January 25, 2018 and February 6, 2018, failed to obtain trade instructions from both joint account holders prior to processing trades in their account, contrary to the Member’s policies and procedures and MFDA Rules 1.1.2, 2.5.1 and 2.1.1;
- on or about February 6, 2018, provided a false or misleading statement to the Member in response to a Member supervisory inquiry, contrary to MFDA Rule 2.1.1; and
- on or about October 6, 2016, signed the signature of a client on an account form and submitted the account form to the Member 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 80,000 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.