MFDA Notice of Hearing

View and Download English PDF
HomeCompleted Hearings202122 - Natasha Maureen Goodison (aka Natasha Maureen Johal) › NOH202122

202122

IN THE MATTER OF A DISCIPLINARY HEARING PURSUANT TO SECTIONS 20 AND 24 OF BY-LAW NO. 1 OF THE MUTUAL FUND DEALERS ASSOCIATION OF CANADA

Natasha Maureen Goodison (aka Natasha Maureen Johal)

NOTICE OF HEARING

NOTICE is hereby given that a first appearance will take place by teleconference before a hearing panel of the Pacific Regional Council (the “Hearing Panel”) of the Mutual Fund Dealers Association of Canada (the “MFDA”) on June 23, 2021 at 10:00 a.m. (Pacific) or as soon thereafter as the hearing can be held, concerning a disciplinary proceeding commenced by the MFDA against Natasha Maureen Goodison (the “Respondent”). Members of the public who would like to listen to the teleconference should contact hearings@mfda.ca to obtain particulars.

DATED: May 18, 2021

"Michelle Pong"

Michelle Pong

Director, Regional Councils

Mutual Fund Dealers Association of Canada
121 King St. West, Suite 1000
Toronto, ON M5H 3T9
Telephone: 416-945-5134
E-mail: corporatesecretary@mfda.ca



NOTICE is further given that the MFDA alleges the following violations of the By-laws, Rules or Policies of the MFDA:

Allegation #1: Between approximately January 2016 and April 2016, the Respondent misappropriated client monies, contrary to MFDA Rule 2.1.1.

PARTICULARS

NOTICE is further given that the following is a summary of the facts alleged and intended to be relied upon by the MFDA at the hearing:

Registration History

  1. From August 4, 2009 to December 31, 2017, the Respondent was registered in British Columbia as a dealing representative with BMO Investments Inc. (the “Member”), a Member of the MFDA.
  2. From July 9, 2014 to December 31, 2017, the Member designated the Respondent as a branch manager.
  3. On December 31, 2017, the Respondent ceased being registered as a dealing representative with the Member, and she is no longer registered in the securities industry in any capacity.
  4. At all material times, the Respondent conducted business at a branch of the Member located in Gibsons, British Columbia (the “Branch”).
  5. Until on or about March 8, 2019, the Respondent was also an employee of the Bank of Montreal (the “Bank”) which is affiliated with the Member and which operated a Bank branch at the same premises as the Branch.

Misappropriation

  1. On January 29, 2009, client BM obtained four Official Cheques from the Bank in the total amount of $7,000 (the “Cheques”).
  2. Client BM instructed the Bank to hold the Cheques until her death and then distribute them to the four payees whose names were indicated on the Cheques. In response to these instructions, the Bank placed the Cheques in its vault for safekeeping.
  3. On June 5, 2015, client BM became a client of the Member.
  4. In or about early 2016, unbeknownst to client BM or the Bank, the Respondent took the Cheques from the Bank’s vault.
  5. On April 5, 2016 and April 6, 2016, the Respondent deposited the Cheques into her own bank account and subsequently used the proceeds for her personal use.
  6. On December 31, 2017, the Respondent ceased being registered in the mutual fund industry but remained an employee of the Bank.
  7. On January 19, 2018, client BM passed away.
  8. In February 2019, the executor of the estate of client BM requested that the Bank provide the Cheques, but they could not be located.
  9. On or about February 2, 2019, in response to inquiries from Bank employees, the Respondent admitted to taking the Cheques from the Bank’s vault and depositing them into her personal account.
  10. On or about February 2, 2019, the Respondent reimbursed the Bank the amounts that she had misappropriated.
  11. By engaging in the conduct described above, the Respondent misappropriated client monies, contrary to MFDA Rule 2.1.1.

NOTICE is further given that the Respondent shall be entitled to appear and be heard and be represented by counsel or agent at the hearing and to make submissions, present evidence and call, examine and cross-examine witnesses.

NOTICE is further given that MFDA By-laws provide that if, in the opinion of the Hearing Panel, the Respondent:

  • has failed to carry out any agreement with the MFDA;
  • has failed to comply with or carry out the provisions of any federal or provincial statute relating to the business of the Member or of any regulation or policy made pursuant thereto;
  • has failed to comply with the provisions of any By-law, Rule or Policy of the MFDA;
  • has engaged in any business conduct or practice which such Regional Council in its discretion considers unbecoming or not in the public interest; or
  • is otherwise not qualified whether by integrity, solvency, training or experience,

the Hearing Panel has the power to impose any one or more of the following penalties:

  1. a reprimand;
  2. a fine not exceeding the greater of:
    1. $5,000,000.00 per offence; and
    2. an amount equal to three times the profit obtained or loss avoided by such person as a result of committing the violation;
  3. suspension of the authority of the person to conduct securities related business for such specified period and upon such terms as the Hearing Panel may determine;
  4. revocation of the authority of such person to conduct securities related business;
  5. prohibition of the authority of the person to conduct securities related business in any capacity for any period of time; and
  6. such conditions of authority to conduct securities related business as may be considered appropriate by the Hearing Panel.

NOTICE is further given that the Hearing Panel may, in its discretion, require that the Respondent pay the whole or any portion of the costs of the proceedings before the Hearing Panel and any investigation relating thereto.

NOTICE is further given that the Respondent must serve a Reply on Enforcement Counsel and file a Reply with the Office of the Corporate Secretary within twenty (20) days from the date of service of this Notice of Hearing.

A Reply shall be served upon Enforcement Counsel at:

Mutual Fund Dealers Association of Canada
Pacific Regional Office
650 West Georgia Street, Suite 1220
Vancouver, BC V6B 4N9
Attention: Zaid A. Sayeed
E-mail: zsayeed@mfda.ca

A Reply shall be filed by:

  1. providing four copies of the Reply to the Office of the Corporate Secretary by personal delivery, mail or courier to:
    1. The Mutual Fund Dealers Association of Canada
      121 King Street West
      Suite 1000
      Toronto, ON M5H 3T9
      Attention: Office of the Corporate Secretary; or
  2. transmitting one electronic copy of the Reply to the Office of the Corporate Secretary by e-mail at CorporateSecretary@mfda.ca.

A Reply may either:

  1. specifically deny (with a summary of the facts alleged and intended to be relied upon by the Respondent, and the conclusions drawn by the Respondent based on the alleged facts) any or all of the facts alleged or the conclusions drawn by the MFDA in the Notice of Hearing; or
  2. admit the facts alleged and conclusions drawn by the MFDA in the Notice of Hearing and plead circumstances in mitigation of any penalty to be assessed.

NOTICE is further given that the Hearing Panel may accept as having been proven any facts alleged or conclusions drawn by the MFDA in the Notice of Hearing that are not specifically denied in the Reply.

NOTICE is further given that if the Respondent fails:

  1. to serve and file a Reply; or
  2. attend at the hearing specified in the Notice of Hearing, notwithstanding that a Reply may have been served,

the Hearing Panel may proceed with the hearing of the matter on the date and the time and place set out in the Notice of Hearing (or on any subsequent date, at any time and place), without any further notice to and in the absence of the Respondent, and the Hearing Panel may accept the facts alleged or the conclusions drawn by the MFDA in the Notice of Hearing as having been proven and may impose any of the penalties described in the By-laws.

End.

820311