TORONTO, June 27 /CNW/ - The Mutual Fund Dealers Association of Canada
("MFDA") today announced that it has commenced disciplinary proceedings
against Gary Alan Price.
MFDA staff alleges in its Notice of Hearing that Mr. Price engaged in the
following conduct contrary to the By-laws, Rules or Policies of the MFDA:
Allegation No.1: Between April 2003 and May 2007, the Respondent failed
to observe high standards of ethics and engaged in business conduct or
practice that was unbecoming by obtaining and possessing pre-signed
forms, contrary to MFDA Rules 2.1.1(b) and 2.1.1(c).
Allegation No.2: Between April 2003 and May 2007, the Respondent failed
to observe high standards of ethics and conduct in the transaction of
business by using pre-signed forms to execute trades, contrary to MFDA
Allegation No.3: Between April 2003 and May 2007, the Respondent engaged
in discretionary trading by selecting mutual funds for purchase without
the necessary instructions from clients RH and LH and completing sections
of pre-signed forms to process such trades for clients RH and LH,
contrary to MFDA Rule 2.3.4 and the terms of his registration as a mutual
Allegation No.4: Between April 2003 and May 2007, the Respondent failed
to observe high standards of ethics by failing twice to comply with the
Member's directives to destroy all pre-signed blank investment forms,
contrary to MFDA Rule 2.1.1(b).
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 Monday, September 15, 2008 at 9:00 a.m. (Eastern) or as
soon thereafter as 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
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
The Mutual Fund Dealers Association of Canada is the self-regulatory
organization for Canadian mutual fund dealers. The MFDA regulates the
operations, standards of practice and business conduct of its 159 Members and
their approximately 72,000 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