TORONTO, July 24, 2013 /CNW/ - A Settlement Hearing in the matter of
Corey William McPherson (the "Respondent") was held yesterday in
Victoria, British Columbia before a three-person Hearing Panel of the
MFDA's Pacific Regional Council.
The Hearing Panel accepted the Settlement Agreement between MFDA Staff
and the Respondent, as a consequence of which the Respondent shall pay
a fine of $1,500 and $1,000 in costs.
In the Settlement Agreement the Respondent admitted that, on or about
July 9, 2011, he failed to observe high standards of ethics and conduct
in the transaction of business by falsifying a client's signature on a
client account document required by the Member to facilitate the
transfer of $11,000 from another financial institution, contrary to
MFDA Rule 2.1.1(b).
The Hearing Panel advised that it will issue written reasons for its
decision in due course. A copy of the Settlement Agreement 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