TORONTO, Sept. 20, 2016 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") has commenced disciplinary proceedings in respect of Jason Perry Boldt (the "Respondent"). In its Notice of Hearing dated July 28, 2016, Staff of the MFDA alleges that the Respondent engaged in the following conduct contrary to the By-laws, Rules and/or Policies of the MFDA:
Allegation #1: Between November 2011 and February 2013, the Respondent engaged in personal financial dealings with clients JH and HH and client SP when he arranged for the clients to loan at least $600,000 to a non-arm's length corporation, thereby giving rise to a conflict or potential conflict of interest which the Respondent failed to address by the exercise of responsible business judgment influenced only by the best interests of the clients, contrary to MFDA Rules 2.1.4, 1.1.2, 2.5.1, and 2.1.1.
Allegation #2: Between November 2011 and October 2014, the Respondent was a director, shareholder and/or principal of three corporations which was not disclosed to, and approved by, the Member, contrary to MFDA Rules 1.2.1(d) (formerly MFDA Rule 1.2.1(c)), 1.1.2, 2.5.1, and 2.1.1.
Allegation #3: Commencing in January 2015, the Respondent failed to cooperate with an investigation conducted by Staff of the MFDA, contrary to section 22.1 of MFDA By-law
The first appearance in this proceeding will take place by teleconference before a Hearing Panel of the MFDA's Prairie Regional Council on October 3, 2016 at 10:00 a.m. (Mountain), or as soon thereafter as the matter can be heard, in order to schedule a date for the commencement of the hearing on the merits and to address any other procedural matters. The first appearance will take place in the hearing room at the MFDA offices, located at 800 - 6th Avenue S.W., Suite 850, Calgary, Alberta, and will be open to the public, except as may be required for the protection of confidential matters. The Hearing on the Merits will take place in Edmonton, Alberta at a time and venue to be announced.
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 Edmonton, Alberta.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its Members and their approximately 83,000 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: Charles Toth, Director, Litigation, 416-943-4619, firstname.lastname@example.org; Mark Stott, Vice-President, Prairie Region, 403-215-8329, email@example.com