NOTICE is hereby given that a hearing will be held electronically by videoconference before a hearing panel of the Prairie Regional Council (the “Hearing Panel”) of the Mutual Fund Dealers Association of Canada (the “MFDA”) on March 6, 2023 at 10:00 a.m. (Central), or as soon thereafter as the hearing can be held, to consider whether, pursuant to section 24.4 of By-law No. 1 of the MFDA, the Hearing Panel should accept the settlement agreement (the “Settlement Agreement”) entered into between Staff of the MFDA and Megha Arora (the “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 sections 20 and 24.1.1 of By-law No. 1 of the MFDA.
- The proposed Settlement Agreement concerns allegations that, between November 2018 and July 2020, the Respondent altered client contact information on the Member’s system without the knowledge or authorization of the client, which had the effect of avoiding the Member’s supervisory and training controls and impacted its ability to communicate with clients, contrary to MFDA Rules 2.1.1, and 2.1.4.
- 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. If the Hearing Panel accepts the settlement agreement, then the proceeding will become open to the public and a copy of the decision of the Hearing Panel and the settlement agreement will be made available at mfda.ca.
Michelle PongMichelle PongDirector, Regional Councils