TORONTO, Aug. 25 /CNW/ - The MFDA today announced that it has commenced
disciplinary proceedings against Tadeusz ("Ted") Bytnar. MFDA Staff
alleges in its Notice of Hearing that Mr. Bytnar engaged in the
following conduct contrary to the By-laws, Rules or Policies of the MFDA:
Allegation #1: In 2003 and 2005, Mr. Bytnar engaged in
securities related business that was not carried on for the account of
the Member and through the facilities of the Member by selling,
referring, or facilitating the sale of an investment product that was
not approved for sale by the Member to four individuals, two of whom
were clients of the Member.
Allegation #2: In 2003 and 2005, Mr. Bytnar engaged
in a dual occupation that was not disclosed to and approved by the
Member by selling, referring or facilitating the sale of an investment
product to four individuals, two of whom were clients of the Member.
Allegation #3: In 2008 and 2009, Mr. Bytnar
interfered with the ability of the Member to conduct a reasonable
supervisory investigation of his conduct by providing false and
misleading responses to the Member in the course of its investigation.
Allegation #4: Commencing August 2009, by failing
to comply with a request by MFDA Staff that he provide copies of bank
statements for the material time under investigation, Mr. Bytnar failed
to cooperate with an MFDA investigation.
The first appearance in this matter will take place by teleconference
before a Hearing Panel of the MFDA's Prairie Regional Council in the
hearing room located at the offices of the MFDA, 800-6th
Avenue SW, Calgary, Alberta on September 17, 2010 at 10:00 a.m.
(Mountain), or as soon thereafter as the appearance can be held.
The purpose of the first appearance is to schedule a date for the
commencement of the hearing on its merits and to address any other
procedural matters. The first 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 href="http://www.mfda.ca/enforcement/cases10/201015.html">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:
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