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 allegations that:
- on or around July 25, 2014, the Respondent obtained, possessed, and used to process a transaction, 1 pre-signed account form in respect of 1 client, contrary to MFDA Rule 2.1.1;
- on or about January 24, 2012, the Respondent failed to have a client initial alterations to an account form that the client had made after the client had signed the account form, contrary to MFDA Rule 2.1.1; and
- between 2013 and 2014, on two occasions, the Respondent failed to accurately respond to the Member’s annual compliance questionnaire by incorrectly affirming that he did not accept or solicit pre-signed account forms or maintain pre-signed account forms in client files, contrary to MFDA Rule 2.1.1.
- MFDA settlement hearings are typically held in the absence of the public pursuant to section 20.5 of MFDA By-law No. 1 and Rule 15.2(2) of the MFDA Rules of Procedure.