TORONTO, Jan. 24 /CNW/ - A settlement hearing in the matter of Calogero
(Charlie) Arcuri was held today in Toronto, Ontario before a Hearing
Panel of the MFDA's Central Regional Council. The Hearing Panel
accepted the Settlement Agreement between Mr. Arcuri and MFDA Staff, as
a consequence of which Mr. Arcuri:
is permanently prohibited from conducting securities related business in
shall pay a fine in the amount of $22,500; and
shall pay costs in the amount of $2,500.
In the Settlement Agreement, Mr. Arcuri admitted that:
he failed to deal with clients BET and AM fairly, honestly and in good
faith and engaged in conduct which was unbecoming and detrimental to
the public interest with respect to JM and MT, contrary to MFDA Rules
2.1.1(a) and (c) respectively; and
he failed to attend to give information as requested by the MFDA,
contrary to Section 22.1 section (c) of MFDA By-Law No. 1.
The Hearing Panel will issue written reasons for its decisions in due
course. A copy of the Settlement Agreement 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:
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