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 the allegations that the Respondent:
- between 2010 and 2014, obtained, possessed, and in some instances, used to process transactions, nine pre-signed account forms in respect of five clients, contrary to MFDA Rule 2.1.1;
- between 2010 and 2014, falsely represented to the Member on its annual registration questionnaire that he did not control or possess any pre-signed account forms, contrary to MFDA Rule 2.1.1; and
- between 2010 and 2014, failed to exercise due diligence to ensure that account forms were accurately and properly completed when 62 account forms in respect of 22 clients were submitted to the Member for processing with a signature stamp bearing the Respondent’s signature rather than the Respondent’s actual signature, contrary to the Member’s policies and procedures and MFDA Rules 2.10, 1.1.2 and 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.
Paige WardPaige WardCorporate Secretary
Mutual Fund Dealers Association of Canada
121 King St. West, Suite 1000
Toronto, ON M5H 3T9
E-mail: [email protected]