MFDA issues Notice of Settlement Hearing in respect of Sofela Sowunmi
TORONTO, March 10, 2014 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") today announced that it has issued a Notice of Settlement Hearing regarding the presentation, review and consideration of a proposed settlement agreement by a Hearing Panel of the MFDA's Central Regional Council.
The settlement agreement will be between Staff of the MFDA and Sofela Kehinde Sowunmi (the "Respondent") and involves matters for which the Respondent may be disciplined by a Hearing Panel pursuant to MFDA By-laws. The proposed Settlement Agreement concerns allegations that from July 2009 to October 2010, the Respondent obtained and used 14 blank or partially completed pre-signed forms to process 9 transactions for 4 clients, contrary to MFDA Rule 2.1.1.
The Settlement Hearing is scheduled to take place on April 16, 2014 at 10:00 a.m. (Eastern), or as soon thereafter as the hearing can held, in the MFDA hearing room located at 121 King Street West, Suite 1000, Toronto, Ontario. The hearing will be open to the public, except as may be required for the protection of confidential matters.
A copy of the Notice of Settlement Hearing is available on the MFDA website at www.mfda.ca. During the period described in the Notice of Settlement Hearing, the Respondent carried on business in Mississauga, Ontario.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 111 Members and their approximately 80,000 Approved Persons with a mandate to protect investors and the public interest. For more information about the MFDA's complaint and enforcement processes, as well as links to 'Check an Advisor' and other Investor Tools, visit the For Investors page on the MFDA website.
SOURCE Mutual Fund Dealers Association of CanadaFor further information: Hugh Corbett, Managing Director, Enforcement, 416-943-4685, firstname.lastname@example.org