TORONTO, Sept. 2, 2016 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") has commenced disciplinary proceedings in respect of Gurpreet Singh Bansal (the "Respondent"). In its Notice of Hearing dated August 23, 2016, 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: Between July 12, 2012 and December 10, 2013, the Respondent obtained, maintained and used 87 pre-signed account forms in order to process transactions on behalf of 37 clients, contrary to MFDA Rule 2.1.1.
The first appearance in this proceeding will be held by teleconference before a Hearing Panel of the MFDA's Pacific Regional Council on September 13, 2016 at 9:30 a.m. (Pacific), 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 take place in the hearing room at the MFDA offices, located at 650 West Georgia Street, Suite 1220, Vancouver, British Columbia, and will be open to the public, except as may be required for the protection of confidential matters. The hearing on the merits will take place in Vancouver, British Columbia at a time and venue to be announced.
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 83,000 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