TORONTO, Dec. 5, 2013 /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 William
James Clarke (the "Respondent") and involves matters for which the
Respondent may be disciplined by a Hearing Panel pursuant to MFDA
By-laws. The proposed settlement agreement concerns allegations that,
contrary to MFDA Rule 2.1.1, the Respondent:
used 115 blank or partially completed pre-signed forms to process
transactions in relation to 54 client accounts;
obtained and maintained 6 blank or partially completed pre-signed
account forms in relation to 6 client accounts; and
altered 4 account forms after the clients had signed them;
The Settlement Hearing is scheduled to take place on February 11, 2014
at 10:00 a.m. (Mountain), or as soon thereafter as the hearing can
held, in the hearing room located at the Delta Edmonton Centre Suite
Hotel, 10222 - 102 Street, Edmonton, Alberta. The hearing will be open
to the public, except as may be required for the protection of
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 Edmonton, Alberta.
The MFDA is the self-regulatory organization for Canadian mutual fund
dealers, regulating the operations, standards of practice and business
conduct of its 113 Members and their approximately 80,000 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:
Managing Director, Enforcement
Vice-President, Prairie Region