Notice of Settlement Hearing

File No. 2016114

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: Gilbert Jean

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 at the offices of the MFDA, located at 121 King Street West, Suite 1000, Toronto, Ontario on March 30, 2017 at 10:00 a.m. (Eastern), or as soon thereafter as the matter can be heard, to consider whether, pursuant to section 24.4 of By-law No. 1 of the MFDA, the Hearing Panel should accept the settlement agreement (the “Settlement Agreement”) entered into between Staff of the MFDA and Gilbert Jean (the “Respondent”).

 

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

Dated: December 16, 2016
  • Sarah Rickard
    Sarah Rickard
    Director of Regional Councils

    Mutual Fund Dealers Association of Canada
    121 King St. West, Suite 1000
    Toronto, ON M5H 3T9
    Telephone: 416-945-5143
    Fax: 416-361-9781
    E-mail: corporatesecretary@mfda.ca

516501

PARTICULARS

  1. The proposed Settlement Agreement concerns the allegations that:
    1. on or about March 17, 2015, the Respondent processed a redemption in a client account at the request of someone other than the client, contrary to MFDA Rule 1.1;
    2. on or about March 5, 2015, the Respondent failed to keep an adequate record of a trade, thereby failing to comply with the Member’s Policies and Procedures, contrary to MFDA Rules 1.2, 2.5.1 and 2.1.1; and
    3. between December 2009 and August 2015, the Respondent obtained, possessed, and in some instances, used to process transactions, 18 pre-signed account forms, contrary to MFDA Rule 2.1.1.
  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.