TORONTO, Dec. 31, 2018 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") has commenced disciplinary proceedings in respect of Dorothy Jean Gabrysz ("Respondent"). In its Notice of Hearing dated December 14, 2018 ("Notice of Hearing"), Staff of the MFDA alleges that the Respondent engaged in the following conduct contrary to the By-laws, Rules and/or Policies of the MFDA:
Allegation #1: In November 2009, the Respondent prepared and submitted client account forms and loan application for client SR which the Respondent knew or ought to have known contained false, incorrect or misleading information, thereby failing to observe high standards of ethics and conduct in the transaction of business and engaging in conduct unbecoming an Approved Person, contrary to MFDA Rule 2.1.1.
Allegation #2: In November 2009, the Respondent failed to perform the necessary due diligence to learn the essential facts relative to the clients to ensure that the leveraged investment recommendations she made to client SR satisfied the Member's leverage suitability requirements in its policies and procedures, contrary to MFDA Rules 2.2.1, 1.1.2, 2.5.1, and 2.1.1.
Allegation #3: Between December 7, 2015 and December 11, 2015 the Respondent failed to report a complaint by client SR to the Member, contrary to the Member's policies and procedures, MFDA Policy No. 6, subsection 4.1(a), and MFDA Rules 1.1.2, 1.4(b), 2.5.1, and 2.1.1.
The first appearance in this proceeding will take place by teleconference before a Hearing Panel of the MFDA's Central Regional Council on March 12, 2019 at 9:00 a.m. (Eastern), or as soon thereafter as the appearance can be held, to schedule a date for the commencement of the hearing on the merits and to address any other procedural matters. The appearance will be open to the public, except as may be required for the protection of confidential matters. Members of the public who would like to listen to the teleconference should contact [email protected] to obtain particulars.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its Members and their approximately 82,000 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: Charles Toth, Managing Director, Litigation, 416-943-4619, [email protected]