TORONTO, Oct. 10, 2013 /CNW/ - The 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 Orville
Keith Carruthers (the "Respondent") and involves matters for which the
Respondent may be disciplined by a Hearing Panel pursuant to MFDA
The proposed settlement agreement concerns allegations that between June
26, 2008 and August 20, 2012, the Respondent obtained, maintained
and/or used approximately 170 account forms in 60 client accounts which
were signed by clients when the account forms were blank or only
partially complete, or contained photocopies of client signatures,
contrary to MFDA Rule 2.1.1.
The Settlement Hearing is scheduled to take place on October 23, 2013 at
2:00 p.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.
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:
Managing Director, Enforcement