TORONTO, Oct. 16, 2012 /CNW/ - The MFDA today announced that it has commenced disciplinary proceedings in respect of Jacqueline De Backer (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: Between 2007 and 2010, the Respondent misrepresented, or failed to fully and adequately explain, the risks, benefits, material assumptions and features of a leveraged investment strategy that she recommended to at least 4 clients, thereby failing to present the leveraged investment strategy to the clients in a fair and balanced manner, contrary to MFDA Rule 2.1.1.
The first appearance in this matter will take place by teleconference before a Hearing Panel of the MFDA's Central Regional Council on November 15, 2012 at 10:00 a.m. (Eastern) in the hearing room located at the MFDA offices, 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.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 120 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:
416-943-4672 or [email protected]