TORONTO, Feb. 1, 2013 /CNW/ - The MFDA today announced that it has
commenced a disciplinary proceeding in respect of Tony Siu Fai Tong
(the "Respondent"). MFDA staff alleges in its Notice of Hearing that
the Respondent engaged in the following conduct contrary to the
By-laws, Rules or Policies of the MFDA:
Allegation #1: Between July 2006 and August 2008, the Respondent engaged in
securities related business that was not carried on for the account and
through the facilities of the Member by selling, recommending,
facilitating the sale or making referrals in respect of the sale of
approximately $1,890,000 of limited partnerships to at least 39 clients
outside the Member, contrary to MFDA Rules 1.1.1(a), 2.4.2(b) and
Allegation #2: Between July 2006 and August 2008, the Respondent had and continued in
another gainful occupation which was not disclosed to and approved by
the Member by selling, recommending, facilitating the sale or making
referrals in respect of the sale of approximately $1,890,000 of limited
partnerships to at least 39 clients outside the Member, contrary to
MFDA Rules 1.2.1(d) and 2.1.1.
Allegation #3: Between December 2010 and January 2011, the Respondent engaged in
conduct unbecoming an Approved Person by providing false and misleading
responses to the Member during the course of the Member's
investigation, contrary to MFDA Rule 2.1.1.
Allegation #4: Between December 2002 and February 2011, the Respondent obtained and
maintained 7 pre-signed forms in respect of 5 client files, thereby
engaging in a practice unbecoming an Approved Person, contrary to MFDA
The first appearance in this matter will take place by teleconference
before a Hearing Panel of the MFDA's Prairie Regional Council on March
20, 2013 at 9:00 a.m. (Mountain) in the MFDA hearing room located at
800 - 6th Avenue S.W., Suite 850, 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 other 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:
416-943-4672 or firstname.lastname@example.org