TORONTO, May 5, 2015 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") has commenced disciplinary proceedings in respect of Gerard (Gerry) Andrew Mok (the "Respondent"). In its Notice of Hearing dated April 20, 2015, Staff of the MFDA alleges that the Respondent engaged in the following conduct contrary the By-laws, Rules and/or Policies of the MFDA:
Allegation #1: Between about January 2003 and October 17, 2012, the Respondent misappropriated at least $835,541 from at least six (6) clients, and at least $245,395 from at least three (3) other individuals, thereby failing to deal fairly, honestly and in good faith with the clients and engaging in a business conduct or practice which was unbecoming or detrimental to the public interest, contrary to MFDA Rule 2.1.1.
Allegation #2: Commencing on or about March 28, 2013, the Respondent has failed to attend an interview to provide a statement and to produce information, documents and records as requested by MFDA Staff during the course of an investigation, contrary to section 22.1 of MFDA By-law No. 1.
The first appearance in this proceeding will take place by teleconference before a Hearing Panel of the MFDA's Central Regional Council on June 10, 2015 at 10:30 a.m. (Eastern), or as soon thereafter as the appearance can be held, in order to schedule a date for the commencement of the hearing on the merits and to address any other procedural matters. The first appearance 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. During the period described in the Notice of Hearing, the Respondent conducted business in the Mississauga, Ontario area.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 104 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: Shaun Devlin, Senior Vice-President, Member Regulation, Enforcement, 416-943-4672, [email protected]