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.
Sarah RickardSarah RickardDirector of Regional Councils
Mutual Fund Dealers Association of Canada
121 King St. West, Suite 1000
Toronto, ON M5H 3T9
E-mail: [email protected]
- The proposed Settlement Agreement concerns the allegation that between January 2011 and July 2015, the Respondent referred at least eight (8) clients and 12 individuals to a mortgage broker to invest in syndicated mortgage products and received at least $10,400 in referral fees, thereby participating in a referral arrangement that did not comply with MFDA Rules 2.4.2, 2.5.1, 1.1.2, 2.1.4 and National Instrument 31-103.
- 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.