TORONTO, April 20 /CNW/ - The Mutual Fund Dealers Association of Canada
("MFDA") today announced that it has commenced disciplinary proceedings
against Barry L. Adams (the "Respondent").
MFDA staff alleges in its Notice of Hearing that Mr. Adams engaged in the
following conduct contrary to the By-laws, Rules or Policies of the MFDA:
Allegation No. 1: Between February 16, 2007 and April 30, 2007, 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 in a real estate investment
product, contrary to MFDA Rules 1.1.1 and 2.1.1.
Allegation No. 2: Between February 16, 2007 and April 30, 2007, the
Respondent engaged in outside business activity that was not disclosed to
and approved by the Member by recommending and facilitating the purchase
of a prohibited real estate investment product, contrary to MFDA Rules
1.2.1(d) and 2.1.1.
The first appearance in this matter will take place by teleconference
before a Hearing Panel of the MFDA's Atlantic Regional Council on June 12,
2009 at 2:00 p.m. (Atlantic) 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 of this matter 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 who would like
to listen to the teleconference for the first appearance should contact Yvette
MacDougall, MFDA Hearings Coordinator, at 416-943-4606 or by email at
email@example.com by June 5, 2009 to obtain particulars. The hearing on the
merits will take place at a location in Saint John, New Brunswick at a time
and place to be announced.
A copy of the Notice of Hearing is available on the MFDA website at
The MFDA is the self-regulatory organization for Canadian mutual fund
dealers, regulating the operations, standards of practice and business conduct
of its 150 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 firstname.lastname@example.org