TORONTO, Dec. 6, 2016 /CNW/ - A Hearing Panel of the Prairie 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 Edmonton, Alberta on November 8, 2016 in the matter of Tanis Karen Techer (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 December 5, 2016, the Hearing Panel confirmed the sanctions imposed on the Respondent:
- a prohibition of three (3) months from conducting securities related business in any capacity while in the employ of or associated with any Member of the MFDA;
- a fine in the amount of $5,000;
- 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:
on or about September 8, 2011, she falsified and used to process a transaction, one client account form in relation to one client, by altering the client account form without having the client initial the alteration, contrary to MFDA Rule 2.1.1; and
between January 24, 2012 and August 19, 2016, she obtained, possessed and, in three instances, used to process transactions, 9 pre-signed client account forms in relation to 5 clients, contrary to MFDA Rule 2.1.1.
Copies of the Reasons for Decision and the Settlement Agreement are available on the MFDA website at www.mfda.ca. During the period described in the Reasons for Decision, the Respondent carried on business in Edmonton, Alberta.
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, firstname.lastname@example.org; Mark Stott, Vice-President, Prairie Region, 403-215-8329, email@example.com