TORONTO, June 11, 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 Regional Council.
The settlement agreement will be between Staff of the MFDA and Kimberly
Ann Haylock (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
February 17, 2010 and November 25, 2011, the Respondent engaged in
personal financial dealings with a client by borrowing approximately
$2,200 from the client, which amount remained outstanding until
November 25, 2011, thereby giving rise to a conflict or potential
conflict of interest between the interests of the Respondent and the
interests of the client which the Respondent failed to ensure was
addressed by the exercise of responsible business judgment influenced
only by the best interests of the client, contrary to MFDA Rule 2.1.4.
The settlement hearing is scheduled to take place on June 18, 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 116 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:
Director of Litigation