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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: Yvonne Yat Sim Chan

NOTICE OF SETTLEMENT HEARING

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 sections 20 and 24.1.1 of MFDA By-law No. 1.

PARTICULARS

  1. The proposed Settlement Agreement concerns allegations that in September 2016 and February 2017, in her capacity as Branch Manager, the Respondent failed to identify regulatory concerns and take adequate supervisory action in response to information which indicated that an Approved Person for whom she had supervisory oversight, had required two clients to sign unauthorized documents purporting to waive the suitability requirement, contrary to MFDA Rule 2.5.5(f), Rule 2.1.1, and MFDA Policy No. 2.
  2. 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.
  • Michelle Pong
    Michelle Pong
    Director of Regional Councils

    Mutual Fund Dealers Association of Canada
    121 King St. West, Suite 1000
    Toronto, ON M5H 3T9
    Telephone: 416-945-5134
    Fax: 416-361-9781
    E-mail: corporatesecretary@mfda.ca