TORONTO, Oct. 10, 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
The settlement agreement will be between Staff of the MFDA and Arron
John Appleton (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 between
March 28, 2006 and May 15, 2012, the Respondent obtained, maintained
and/or used approximately 24 account forms in 8 client accounts where
the account forms were signed by the clients when the account forms
were blank or only partially complete, contained photocopies of client
signatures, or were altered with correction fluid after the client had
signed the account form without any evidence of client approval of the
changes to the account form, contrary to MFDA Rule 2.1.1.
The Settlement Hearing is scheduled to take place on October 23, 2013 at
10:00 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.
The MFDA is the self-regulatory organization for Canadian mutual fund
dealers, regulating the operations, standards of practice and business
conduct of its 115 Members and their approximately 80,000 Approved
Persons with a mandate to protect investors and the public interest.
SOURCE: Mutual Fund Dealers Association of Canada
For further information:
Managing Director, Enforcement