April 27, 2017 (Toronto, Ontario) – The Mutual Fund Dealers Association of Canada (“MFDA”) has commenced disciplinary proceedings in respect of William Andrew Castle Thackray (“Respondent”). In its Notice of Hearing dated March 27, 2017, 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 April and July 2014, the Respondent engaged in securities related business that was not carried on for the account or through the facilities of the Member, by processing 3 redemptions on behalf of 2 individuals directly through the mutual fund companies, using trade documentation and the Respondent’s representative code from his former mutual fund dealer, contrary to the Member’s policies and procedures and MFDA Rules 1.2.1, 2.5.1, 1.1.1, and 2.1.1.
Allegation #2: Between December 3, 2013 and January 11, 2016, in response to the inquiry of his former Member, the Respondent falsely represented that he disposed of the former Member’s documentation and signature guarantee stamp after he ceased being registered with the former Member, contrary to MFDA Rule 2.1.1.
The first appearance in this proceeding will be held by teleconference before a Hearing Panel of the MFDA’s Pacific Regional Council on June 27, 2017 at 10:00 a.m. (Pacific), or as soon thereafter as the appearance can be held, in order to schedule a date for the commencement of the hearing on the merits and to address any other procedural matters. The first appearance will take place in the hearing room at the MFDA offices, located at 650 West Georgia Street, Suite 1220, Vancouver, British Columbia, and will be open to the public, except as may be required for the protection of confidential matters. The hearing on the merits will take place in Vancouver, British Columbia at a time and venue to be announced.
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 in the Victoria, British Columbia 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 83,000 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.