TORONTO, Aug. 9 /CNW/ - The MFDA today announced that it has commenced disciplinary proceedings against Anthony MacFarlane (the "Respondent").
MFDA staff alleges in its Notice of Hearing that the Respondent engaged in the following conduct contrary to the By-laws, Rules or Policies of the MFDA:
Allegation No.1: Between about December 2007 and May 2008, the Respondent
received $10,595.25 from client JN which he failed to invest on her
behalf and account for, thereby failing to deal fairly, honestly and in
good faith with client JN, contrary to MFDA Rule 2.1.1.
Allegation No.2: Between about January 2005 and March 2008, the
Respondent engaged in another gainful occupation, being the preparation
of income tax returns for clients and other individuals, which was not
disclosed to and approved by the Member, contrary to MFDA Rule 1.2.1(d).
Allegation No.3: Commencing in August 2009, the Respondent failed to
provide information and produce documents requested during the course of
an investigation of his conduct, contrary to section 22.1 of MFDA By-law
The first appearance in this matter will take place by teleconference before a Hearing Panel of the MFDA's Central Regional Council on September 8, 2010 at 10:00 a.m. (Eastern). The purpose of the first appearance is to schedule a date for the commencement of the hearing on the merits and to address any other procedural matters, and will be open to the public, except as may be required for the protection of confidential matters.
A copy of the Notice of Hearing 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 139 Members and their approximately 73,000 Approved Persons with a mandate to protect investors and the public interest.
SOURCE Mutual Fund Dealers Association of Canada
For further information: For further information: Shaun Devlin, Vice-President, Enforcement, 416-943-4672 or email@example.com