TORONTO, March 9, 2017 /CNW/ - A settlement hearing in the matter of Erin Julia Katelin Tilley (the "Respondent") was held on March 8, 2016 in Halifax, Nova Scotia before a three-member Hearing Panel of the Atlantic Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA").
The Hearing Panel accepted the settlement agreement (the "Settlement Agreement") between Staff of the MFDA and the Respondent, as a consequence of which the Respondent:
- has paid a fine in the amount of $5,000;
- has paid costs in the amount of $2,500; and
- shall in the future comply with MFDA Rule 2.1.1.
In the Settlement Agreement, the Respondent admitted that:
a) between February 2015 and July 2015, she obtained and possessed three (3) pre-signed account forms in respect of three (3) clients, contrary to MFDA Rule 2.1.1; and
b) in April 2015, she misled the Member on its annual compliance certification when she indicated to the Member that she did not obtain or possess any pre-signed account forms, contrary to MFDA Rule 2.1.1.
A copy of the Settlement Agreement is available on the MFDA website at www.mfda.ca. During the period described in the Settlement Agreement, the Respondent carried on business in Halifax, Nova Scotia.
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: please contact: Charles Toth, Director, Litigation, 416-943-4619, firstname.lastname@example.org