TORONTO, June 2 /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 Roderick Iain McLeod and involves matters for which Mr. McLeod may be disciplined by a Hearing Panel pursuant to MFDA By-laws.
The subject matter of the proposed settlement agreement concerns allegations that, contrary to MFDA Rule 1.1.1, Mr. McLeod engaged in securities related business that was not carried on for the account of the Member and through the facilities of the Member by referring or facilitating the sale of $125,000 of an investment product to two individuals when that investment product had not been approved for sale by the Member.
The settlement hearing is scheduled to commence at 10:00 a.m. (Eastern) on June 10, 2010 in the 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 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: Shaun Devlin, Vice-President, Enforcement, (416) 943-4672 or email@example.com