TORONTO, Nov. 25, 2013 /CNW/ - The MFDA today announced that it has
issued a Notice of Settlement Hearing regarding the presentation,
review and consideration of a proposed settlement agreement by a
Hearing Panel of the MFDA's Central Regional Council.
The settlement agreement will be between Staff of the MFDA and Angie Sau
Chu Lau (the "Respondent") and involves matters for which the
Respondent may be disciplined by a Hearing Panel pursuant to MFDA
The proposed settlement agreement concerns allegations that, on or about
October 6, 2011, the Respondent paid compensation directly to a client
to settle the client's complaint without obtaining the prior written
consent of the Member, contrary to MFDA Policy No. 3 and MFDA Rule
The Settlement Hearing is scheduled to take place on December 10, 2013
at 11:00 a.m. (Eastern), or as soon thereafter as the hearing can held,
in the MFDA hearing room located at 121 King Street West, Suite 1000,
Toronto, Ontario. The hearing will be open to the public, except as may
be required for the protection of confidential matters.
A copy of the Notice of Settlement Hearing is available on the MFDA website at www.mfda.ca. During the period described in the Notice of Settlement Hearing, the
Respondent carried on business in the Ottawa, Ontario area.
The MFDA is the self-regulatory organization for Canadian mutual fund
dealers, regulating the operations, standards of practice and business
conduct of its 114 Members and their approximately 80,000 Approved
Persons with a mandate to protect investors and the public interest.
For more information about the MFDA's complaint and enforcement
processes, as well as links to 'Check an Advisor' and other Investor
Tools, visit the For Investors page on the MFDA website.
SOURCE: Mutual Fund Dealers Association of Canada
For further information:
Managing Director, Enforcement