TORONTO, April 19, 2016 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") commenced a disciplinary proceeding in respect of Raymond Joseph Anders (the "Respondent") by Notice of Hearing (the "Notice of Hearing") dated January 3, 2016.
As the result of a settlement agreement entered into between Staff of the MFDA and the Respondent, a settlement hearing in this proceeding will take place on July 5, 2016, commencing at 10:00 a.m. (Central), at a venue to be announced in Regina, Saskatchewan.
The subject matter of the proposed settlement agreement concerns matters for which the Respondent may be disciplined pursuant to ss. 20 and 24.1.1 of By-law No. 1 of the MFDA. In particular, the settlement agreement concerns allegations set out in the Notice of Hearing with respect to the Respondent facilitating the transfer of 80 client accounts to a new Member, prior to being registered with the new Member, thereby engaging in registerable activity and securities related business on behalf of a Member that the Respondent was not registered with, and failing to observe high standards of ethics and conduct in the transaction of business by using pre-signed forms.
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 the Regina, Saskatchewan area.
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, email@example.com; Mark Stott, Vice-President, Prairie Region, 403-215-8329, firstname.lastname@example.org