MFDA Hearing Panel issues Reasons for Decision in the matter of Kenneth Zukiwski

TORONTO, May 17, 2016 /CNW/ - A Hearing Panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA") has issued its Reasons for Decision in connection with a settlement hearing held in Toronto, Ontario on February 25, 2016 in the matter of Kenneth Zukiwski (the "Respondent"). The Reasons for Decision relate to the Hearing Panel's acceptance of the settlement agreement (the "Settlement Agreement") entered into between the Respondent and Staff of the MFDA. In its Reasons for Decision dated May 16, 2016, the Hearing Panel confirmed the following sanctions imposed on the Respondent:

  • a fine in the amount of $12,500;
  • costs in the amount of $2,500; and
  • in future shall comply with MFDA Rule 2.1.1.

In the Settlement Agreement, the Respondent admitted that between January 2011 and January 2014, he:


obtained, possessed, and used to process transactions, 12 pre-signed account forms in respect of four (4) clients, contrary to MFDA Rule 2.1.1;


altered and used to process transactions, three (3) client account forms in respect of two (2) clients, contrary to MFDA Rule 2.1.1; and


on four (4) occasions, failed to accurately respond to the Member's annual compliance inquiries by incorrectly responding that he did not obtain or possess any pre-signed forms, contrary to MFDA Rule 2.1.1.


Copies of the Reasons for Decision and the Settlement Agreement are available on the MFDA website at During the period described in the Reasons for Decision, the Respondent carried on business in the Burlington, Ontario 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,


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