TORONTO, July 9, 2012 /CNW/ - The MFDA today announced that it has commenced disciplinary proceedings
in respect of Alex Wai Yuk Lam (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: Between 2002 and 2010, the Respondent obtained and maintained 28 blank
and incomplete pre-signed forms for 16 clients, thereby failing to
observe high standards of ethics and conduct in the transaction of
business, contrary to MFDA Rule 2.1.1(b).
The first appearance in this matter will take place by teleconference
before a Hearing Panel of the MFDA's Central Regional Council on August
8, 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
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 121 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
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