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Notice of Settlement Hearing

IN THE MATTER OF A SETTLEMENT HEARING PURSUANT TO SECTION 24.4 OF BY-LAW NO. 1 OF THE MUTUAL FUND DEALERS ASSOCIATION OF CANADA

Re:

Notice of Settlement Hearing

Notice of Settlement Hearing
File No. 201125



IN THE MATTER OF A SETTLEMENT HEARING
PURSUANT TO SECTION 24.4 OF BY-LAW NO. 1 OF
THE MUTUAL FUND DEALERS ASSOCIATION OF CANADA


Re: Ronald Lyle Bestard



NOTICE OF SETTLEMENT HEARING

NOTICE is hereby given that a hearing will be held before a hearing panel of the Central
Regional Council (the “Hearing Panel”) of the Mutual Fund Dealers Association of Canada (the
“MFDA”) in the hearing room located at 121 King Street West, Suite 1000, Toronto, Ontario, on
December 9, 2011 at 10:00 a.m. (Eastern), or as soon thereafter as the hearing can be held, to
consider whether, pursuant to section 24.4 of MFDA By-law No. 1, the Hearing Panel should
accept the settlement agreement (the “Settlement Agreement”) entered into between Staff of the
MFDA and Ronald Lyle Bestard (the “Respondent”).

The subject matter of the proposed Settlement Agreement concerns matters for which the
Respondent may be disciplined as an Approved Person, pursuant to sections 20 and 24.1.1 of
MFDA By-law No. 1.

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PARTICULARS

1.
The Respondent admits that between 2008 and 2010 he:
i. falsified, or permitted to be falsified, client signatures on 15 account opening
documents, and signed redemption or purchase forms for seven clients, contrary
to MFDA Rule 2.1.1(a); and
ii. obtained and maintained blank pre-signed forms for four clients, and ‘whited out’
details on old redemption forms and re-used the forms for five clients, contrary to
MFDA Rule 2.1.1(a).
2.
The hearing is open to the public, unless and to the extent that the Hearing Panel
determines that all or part of the hearing should proceed in the absence of the public. If the
Hearing Panel accepts the Settlement Agreement, then copies of the decision of the Hearing
Panel and the Settlement Agreement will be made available to the public.


DATED this 2nd day of December, 2011.

“Jason D. Bennett”

Jason D. Bennett

Corporate Secretary

Mutual Fund Dealers Association of Canada
121 King St. West, Suite 1000
Toronto, Ontario
M5H 3T9
Telephone: 416-943-7431
Facsimile: 416-361-9781
Email: [email protected]

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