MFDA issues Notice of Settlement Hearing in respect of Garth Plunkett

TORONTO, Nov. 14, 2016 /CNW/ - The Mutual Fund Dealers Association of Canada ("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 Prairie Regional Council.

The settlement agreement will be between Staff of the MFDA and Garth Adrian Plunkett (the "Respondent") and involves matters for which the Respondent may be disciplined by a Hearing Panel pursuant to MFDA By-laws. The subject matter of the proposed settlement agreement concerns the allegations that the Respondent:

a)     

between May 13, 2011 and April 11, 2014, altered and used to process transactions, three (3) client account forms with respect to three (3) clients, without having the clients initial the alterations, contrary to MFDA Rule 2.1.1; and

b)     

between February 22, 2007 and June 27, 2013, or his assistant for whom he was responsible, obtained, possessed and used to process transactions, 33 pre-signed account forms in respect of 26 clients, contrary to MFDA Rule 2.1.1.

 

The settlement hearing is scheduled to take place on November 29, 2016, commencing at 10:00 a.m. (Mountain), or as soon thereafter as the matter can be held, in the hearing room at the offices of the MFDA, located at 800 - 6th Avenue S.W., Suite 850, Calgary, Alberta. The proceeding will be open to the public, except as may be required for the protection of confidential matters.

MFDA settlement hearings are typically held in the absence of the public pursuant to section 20.5 of MFDA By-law No. 1 and Rule 15.2(2) of the MFDA Rules of Procedure. If the Hearing Panel accepts the settlement agreement, then the proceeding will become open to the public and a copy of the decision of the Hearing Panel and the settlement agreement will be made available at www.mfda.ca.

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 Calgary, Alberta.

The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its Members and their approximately 83,000 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: Charles Toth, Director, Litigation, 416-943-4619, ctoth@mfda.ca; Mark Stott, Vice-President, Prairie Region, 403-215-8329, mstott@mfda.ca

RELATED LINKS
http://www.mfda.ca

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