TORONTO, Oct. 21, 2013 /CNW/ - The MFDA today announced that it has
commenced disciplinary proceedings in respect of Edward Andrew Rempel
(the "Respondent"). MFDA staff alleges in its Notice of Hearing that
the Respondent engaged in the following conduct contrary the By-laws,
Rules or Policies of the MFDA:
Allegation #1: On September 19, 2011, without the knowledge or prior written consent
of the Member, the Respondent contacted client KS, who had filed a
complaint against the Respondent with the Member, by telephone in order
persuade client KS to withdraw part of his complaint against the
offer to compensate client KS for the deferred sales charges he would
incur if he
withdrew his complaint and collapsed the leveraged investment strategy
the subject matter of the complaint; and
impose conditions on his proposal to client KS in order to keep the
contrary to MFDA Rules 2.1.1 and 2.1.4, MFDA Policy No. 3 and the
Policies and Procedures of the Member.
Allegation #2: On November 28, 2011, prior to learning that client KS had recorded
the telephone conversation of September 19, 2011 referred to in
Allegation #1, the Respondent sent a written statement to the MFDA in
which he falsely denied that he had attempted to:
persuade client KS to withdraw all or part of his complaint; and
negotiate a settlement with client KS without the prior written consent
of the Member;
contrary to MFDA Rule 2.1.1 and section 22.1 of MFDA By-law No. 1.
The first appearance in this matter will take place by teleconference
before a Hearing Panel of the MFDA's Central Regional Council on
November 27, 2013 at 10:00 a.m. (Eastern) in the MFDA hearing room
located at 121 King Street West, Suite 1000, Toronto, Ontario. The
purpose of the appearance is to set a date for the hearing of this
matter on its merits and to address any other procedural matters and
will be open to the public, except as may be required for the
protection of confidential matters.
A copy of the Notice of 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 115 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:
Managing Director, Enforcement