TORONTO, Nov. 14, 2017 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") has commenced disciplinary proceedings in respect of Jeremy William Travis ("Respondent"). In its Notice of Hearing dated October 4, 2017 ("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: Commencing in December 2010, the Respondent engaged in personal financial dealings with client MP by borrowing $10,000 from the client and obtaining $2,200 in airline tickets paid for with the client's credit card, which gave rise to a conflict or potential conflict of interest that the Respondent failed to disclose to the Member or address by the exercise of responsible business judgment influenced only by the best interests of the clients, contrary to MFDA Rules 2.1.1 and 2.1.4.
Allegation #2: In March and November 2015, the Respondent misled the Member by falsely denying that he had borrowed money from a client, thereby interfering with the ability of the Member to supervise the Respondent's activities and engaging in conduct that is unbecoming and detrimental to the public interest, contrary to MFDA Rules 1.1.2, 2.5.1 and 2.1.1.
Allegation #3: Commencing in July 2016, the Respondent has failed to cooperate with an investigation by Staff of the MFDA concerning his conduct, 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 December 12, 2017 at 9:00 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 appearance 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 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
For further information: Charles Toth, Director, Litigation, 416-943-4619, [email protected]