TORONTO, Dec. 20, 2013 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") today announced
that it has commenced disciplinary proceedings in respect of Peter
Joseph Izzio (the "Respondent"). MFDA staff alleges in its Notice of
Hearing that the Respondent engaged in the following conduct contrary
the By-laws, Rules or Policies of the MFDA:
Allegation #1: On or about September 27, 2012, the Respondent performed two trades in
the account of client JS without prior authorization from client JS,
thereby engaging in discretionary trading, contrary to MFDA Rules 2.3.1
Allegation #2: Between March 20, 2010 and March 12, 2012, the Respondent used or
allowed to be used three pre-authorized chequing/automatic withdrawal
forms signed by client PG in blank to process trades in client PG's
account, contrary to MFDA Rule 2.1.1.
The first appearance in this matter will take place by teleconference
before a Hearing Panel of the MFDA's Central Regional Council on
February 18, 2014 at 11:00 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 address any other procedural matters and will
be open to the public, except as may be required for the protection of
A copy of the Notice of Hearing is available on the MFDA website at www.mfda.ca. During the period described in the Notice of Hearing, the Respondent
carried on business in Kitchener, Ontario.
The MFDA is the self-regulatory organization for Canadian mutual fund
dealers, regulating the operations, standards of practice and business
conduct of its 112 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 Canada
For further information:
Managing Director, Enforcement