MFDA issues Notice of Hearing regarding Barry J. Raymer



    TORONTO, Jan. 20 /CNW/ - The Mutual Fund Dealers Association of Canada
("MFDA") today announced that it has commenced disciplinary proceedings
against Barry James Raymer (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 April 2004 and September 12, 2006, the
    ----------------  Respondent failed to disclose to the Member a conflict
                      or potential conflict between his interests and those
                      of clients of the Member and failed to ensure that such
                      conflicts were addressed by the exercise of responsible
                      business judgment influenced only by the best interests
                      of the clients, contrary to MFDA Rule 2.1.4.

    Allegation No. 2: Between October 5, 2004 and February 14, 2006, the
    ----------------  Respondent engaged in securities related business that
                      was not carried on for the account of the Member or
                      through the facilities of the Member by recommending
                      and facilitating investments by clients in Jewal
                      International Inc. ("Jewal") and Permanent Power
                      Solutions ("PPS"), contrary to MFDA Rules 1.1.1 and
                      2.1.1.

    Allegation No. 3: Between October 5, 2004 and February 14, 2006, the
    ----------------  Respondent referred clients to his spouse, ER, who was
                      not registered to advise or trade securities in Ontario
                      (or in any other jurisdiction), to carry out trades or
                      acts in furtherance of trades in the securities of
                      Jewal and PPS, thereby facilitating trading in
                      securities by an unregistered person, contrary to
                      Ontario securities law and MFDA Rule 2.1.1.

    Allegation No. 4: Between October 5, 2004 and February 14, 2006, the
    ----------------  Respondent had and continued in another gainful
                      occupation that was not disclosed to or approved by the
                      Member by recommending and facilitating loans by
                      clients to Jewal and PPS through ER, contrary to MFDA
                      Rules 1.2.1(d) and 2.1.1.

    Allegation No. 5: Between April 2004 and September 12, 2006, the
    ----------------  Respondent failed to comply with the policies and
                      procedures of the Member regarding conflicts of
                      interest, personal financial dealings with clients and
                      outside business activity, contrary to MFDA Rules 2.5.1
                      and 1.1.2.
    

    The first appearance in this matter will take place by teleconference
before a Hearing Panel of the MFDA Central Regional Council in the Hearing
Room located at the offices of the MFDA, 121 King Street West, Suite 1000,
Toronto, Ontario on Friday, February 20, 2009 at 11:00 a.m. (Eastern) or as
soon thereafter as the appearance can be held.
    The purpose of the first appearance is to schedule the date for the
commencement of the hearing on its merits and to address any other procedural
matters.
    The first appearance is open to the public, except as may be required for
the protection of confidential matters. Members of the public attending the
first appearance will be able to listen to the proceeding by teleconference.
    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. The MFDA regulates the operations, standards of practice and business
conduct of its 153 Members and their approximately 75,000 Approved Persons
with a mandate to protect investors and the public interest.





For further information:

For further information: Shaun Devlin, Vice-President, Enforcement,
(416) 943-4672, or sdevlin@mfda.ca


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890