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 By-law No. 1 of the MFDA.
- The proposed Settlement Agreement concerns allegations that from June 1, 2013 to April 30, 2016, the Respondent
- learned, but failed to record on Member account forms, accurate Know-Your-Client information for clients; and
- failed in his capacity as Branch Manager to supervise two Approved Persons to ensure they recorded accurate Know-Your-Client information for clients on Member account forms, contrary to MFDA Rules 2.2.1(b) and 2.5.5(f).
- 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 PongMichelle PongDirector of Regional Councils
Mutual Fund Dealers Association of Canada
121 King St. West, Suite 1000
Toronto, ON M5H 3T9
E-mail: [email protected]