NOTICE is hereby given that a hearing will be held electronically by videoconference before a hearing panel of the Atlantic Regional Council (the “Hearing Panel”) of the Mutual Fund Dealers Association of Canada (the “MFDA”) on February 9, 2023 at 10:00 a.m. (Atlantic), 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 Gilbert VanAmburg (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 the Respondent:
- between January 23, 2017 and December 14, 2020, obtained, possessed and used to process transactions, 7 pre-signed account forms in respect of 9 clients, contrary to MFDA Rule 2.1.1; and
- between November 6, 2016 and January 6, 2021, altered and used to process transactions, 16 account forms in respect of 14 clients, by altering information on the account forms without having the client initial the alterations, contrary to MFDA Rule 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. 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