NOTICE is hereby given that a hearing will be held before a hearing panel of the Pacific Regional Council (“Hearing Panel”) of the Mutual Fund Dealers Association of Canada (“MFDA”) in the hearing room at the British Columbia Securities Commission, 1200-701 West Georgia Street, Vancouver, British Columbia on October 25, 2019 at 10:00 a.m. (Pacific), or as soon thereafter as the matter can be heard, to consider whether, pursuant to section 24.4 of By-law No. 1 of the MFDA, the Hearing Panel should accept the settlement agreement (“Settlement Agreement”) entered into between Staff of the MFDA and Jerome Thomas Bates (“Respondent”).
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 October 2009 and April 2017, he, or his assistant for whom he was responsible, altered and used to process transactions, 27 account forms in respect of 15 clients by altering information on the account forms without having the clients initial the alterations, contrary to MFDA Rule 2.1.1; and
- between October 2009 and April 2017, he failed to comply with the Member’s policies and procedures by failing to record and maintain evidence of client instructions with respect to alterations made to 27 account forms in respect of 15 clients, contrary to MFDA Rules 2.5.1, 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.
Michelle PongMichelle PongDirector, Regional Councils
Mutual Fund Dealers Association of Canada
121 King St. West, Suite 1000
Toronto, ON M5H 3T9
E-mail: [email protected]