TORONTO, March 13, 2013 /CNW/ - The MFDA today announced that it has
commenced disciplinary proceedings in respect of Ricardo John Cavalli
(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: From January 2006 to July 2009, the Respondent engaged in securities
related business that was not carried on for the account of, and
through the facilities of, the Member by selling, recommending,
facilitating the sale, or making referrals in respect of the sale of
three different exempt securities to clients and other individuals
outside the Member, contrary to MFDA Rules 1.1.1, 2.4.2 and 2.1.1.
Allegation #2: From January 2006 to July 2009, the Respondent had and continued in
other gainful occupations which were not disclosed to and approved by
the Member by selling, recommending, facilitating the sale, making
referrals of exempt securities to clients and other individuals outside
the Member, contrary to MFDA Rules 1.2.1(d) and 2.1.1.
The first appearance in this matter will take place by teleconference
before a Hearing Panel of the MFDA's Prairie Regional Council on April
18, 2013 at 10:00 a.m. (Mountain) in the MFDA hearing room located at
Suite 850, 800 - 6th Avenue S.W., Calgary, Alberta. The purpose of the appearance is to set
a date for the hearing of this matter on its merits and to address any
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 115 Members and their approximately 80,000 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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