MFDA issues Notice of Hearing regarding Laurier Capital Planning Inc.

TORONTO, Dec. 13 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") today announced that it has commenced disciplinary proceedings against Laurier Capital Planning Inc. (the "Laurier").

MFDA staff alleges in its Notice of Hearing that Laurier engaged in the following conduct contrary to the By-laws, Rules or Policies of the MFDA:

    Allegation #1: From January 24, 2008 to May 15, 2008, Laurier failed to ensure that tier-one supervision of trading activity was adequately implemented and maintained in that Laurier did not review the suitability of trading in client accounts.
    Allegation #2: From January 24, 2008 to May 15, 2008, Laurier failed to ensure that tier-two supervision was adequately implemented and maintained in that Laurier:
    (i)     failed to adequately review the suitability of trade recommendations in client accounts; and
    (ii)    failed to conduct reviews for excessive trading and off-book trading in client accounts.

The first appearance in this matter will take place by teleconference before a Hearing Panel of the MFDA's Prairie Regional Council on January 18, 2011 at 11:00 a.m. (Mountain), or as soon thereafter as the appearance can be held. The purpose of the first appearance is to schedule the date for the hearing of this matter on its merits and 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 136 Members and their approximately 75,000 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 sdevlin@mfda.ca


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