TORONTO, Jan. 17, 2012 /CNW/ - The MFDA today announced that it has commenced disciplinary proceedings
in respect of Ellen Grace Batac, Hazel Gaminde, Dandy Macareag, Cesar
Martin and Lilibeth Ocampo, collectively "the Respondents". MFDA staff
alleges in its Notice of Hearing that the Respondents engaged in the
following conduct contrary the By-laws, Rules or Policies of the MFDA:
Allegation #1: From at least September 2005 to 2008, the Respondents engaged in
securities related business that was not carried on for the account and
through the facilities of the Member by selling or facilitating the
sale of investments in a hedge fund to members of the public, contrary
to MFDA Rules 1.1.1(a) and 2.1.1 and the Member's policies and
Allegation #2: From at least September 2005 to 2008, the Respondents had and
continued in another gainful occupation that was not disclosed to and
approved by the Member by selling or facilitating the sale of a hedge
fund to members of the public, contrary to MFDA Rules 1.2.1(d) and
2.1.1 and the Member's policies and procedures.
Allegation #3: Commencing in 2009, Batac, Macareag, Martin and Ocampo have failed or
refused to provide documents and information to MFDA Staff and/or to
attend an interview requested by MFDA Staff during the course of an
investigation, contrary to section 22.1 of MFDA By-law No. 1.
The first appearance in this matter will take place by teleconference
before a Hearing Panel of the MFDA's Central Regional Council on
February 23, 2012 at 10:00 a.m. (Eastern) in the MFDA Hearing Room
located at 121 King Street West, Suite 1000, Toronto, Ontario. The
purpose of the appearance is to set a date for the hearing of this
matter on its merits and to address any other procedural matters and
will be open to the public, except as may be required for the
protection of confidential matters.
A copy of the Notice of Hearing is available on the MFDA website at www.mfda.ca.
The MFDA is the self-regulatory organization for Canadian mutual fund
dealers, regulating the operations, standards of practice and business
conduct of its 125 Members and their approximately 75,000 Approved
Persons with a mandate to protect investors and the public interest.
SOURCE Mutual Fund Dealers Association of Canada
For further information:
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