TORONTO, June 28 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") today announced that it has commenced disciplinary proceedings against Chris M. McAuley (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: In or about 2007, the Respondent submitted false and
misleading documentation to a lending institution for the purpose of
obtaining investment loans for clients and for himself, thereby failing
to observe the high standards of ethics and conduct in the transaction of
Allegation No. 2: In or about February 2008, the Respondent
misappropriated approximately $47,838.11 from client NW, thereby failing
to deal fairly, honestly and in good faith with client NW.
Allegation No. 3: Between about February and March 2008, the Respondent
misled the Member during the course of its investigation of his conduct,
thereby failing to observe high standards of ethics and conduct in the
transaction of business.
Allegation No. 4: Between about March and May 2009, the Respondent failed
to attend for an interview during the course of an investigation of his
conduct by the MFDA.
The first appearance in this matter will take place by teleconference before a Hearing Panel of the MFDA's Central Regional Council in the hearing room located at the offices of the MFDA at at 121 King Street West, Suite 1000, Toronto, Ontario on July 20, 2010 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 of this matter on its merits and to address any other procedural matters. The appearance 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 firstname.lastname@example.org