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Vice-President, Pacific Region
MFDA Hearing Panel approves settlement agreement with Martin Harris
January 7, 2016 (Toronto, Ontario) – A settlement hearing in the matter of Martin Paul Harris (the “Respondent”) was held yesterday in Vancouver, British Columbia before a Hearing Panel of the Pacific Regional Council of the Mutual Fund Dealers Association of Canada (“MFDA”). The Hearing Panel approved the s ettlement agreement (“Settlement Agreement”) between Staff of the MFDA and the Respondent, as a consequence of which the Respondent:
• has paid a fine in the amount of $10,000;
• has paid costs in the amount of $2,500; and
• in future shall comply with all MFDA By-laws, Rules and Policies and all applicable securities legislation and regulations made thereunder including MFDA Rule 2.1.1.
In the Settlement Agreement, the Respondent admitted that from March 2010 to April 2014, he obtained, maintained and/or used 56 pre-signed account forms in respect of 34 clients, contrary to MFDA Rule 2.1.1.
A copy of the Settlement Agreement is available on the MFDA website at www.mfda.ca. During the period described in the Settlement Agreement, the Respondent carried on business in the Coquitlam, 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 101 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.
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