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.
- The proposed Settlement Agreement concerns allegations that the Respondent:
- between November 2012 and April 2014, altered and used to process transactions, three (3) account forms in respect of three (3) clients by altering information on the account forms without having the clients initial the alterations, contrary to MFDA Rule 2.1.1;
- between August 2012 and January 2016, altered information on 17 account forms that had been previously signed by ten (10) clients and used in previous transactions in order to process new transactions in the clients’ accounts, contrary to MFDA Rule 2.1.1; and
- between February 2013 and February 2016, obtained, possessed, and in some instances, used to process transactions, 51 pre-signed account forms in respect of 24 clients, 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.
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]