May 2, 2017 (Toronto, Ontario) – A settlement hearing in the matter of Branislav Robert Djekic (“Respondent”) was held on today in Toronto, Ontario before a two-member Hearing Panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada (“MFDA”).
The Hearing Panel approved the settlement agreement (“Settlement Agreement”) between Staff of the MFDA and the Respondent, as a consequence of which the following penalty was imposed on the Respondent:
- a prohibition from conducting securities related business in the employ of or associated with a Member of the MFDA for a period of 9 months;
- shall in future comply with MFDA Rule 2.1.1.
In the Settlement Agreement, the Respondent admitted that:
- on November 20, 2014, he falsified one (1) client’s signature on one (1) account form, contrary to MFDA Rule 2.1.1; and
- on November 24, 2014, he misled the Member when he falsely represented to his branch manager that a client had signed an account form, when he know this to be incorrect, 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 conducted business in the Windsor, Ontario 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.