TORONTO, Dec. 14 /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 Pacific Regional Council.
The settlement agreement will be between Staff of the MFDA and Zenon
Smiechowski (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 allegations that the Respondent:
engaged in personal financial dealings with a client by borrowing monies
from the client (the "Loan") and then failing to promptly repay the
Loan, contrary to MFDA Rules 2.1.4 and 2.1.1; and
failed to comply with the policies and procedures of Members with which
he was registered by not informing them of the Loan or a civil claim
commenced against him by the client in respect of the Loan, contrary to
MFDA Policy No. 6, MFDA Rules 1.1.2, 1.25(b) and 2.5.1, and MFDA Rule
The settlement hearing is scheduled to commence at 10:00 a.m. (Pacific)
on December 16, 2010 in the hearing room located at the Wosk Centre for
Dialogue, 580 West Hastings Street, Vancouver, British Columbia and
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 136 Members and their approximately 75,000 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:
416-943-4672 or firstname.lastname@example.org