TORONTO, April 26, 2016 , Ontario) – The Mutual Fund Dealers Association of Canada ("MFDA") has commenced disciplinary proceedings in respect of Jonathan Robert MacPherson (the "Respondent"). In its Notice of Hearing dated April 5, 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 March 24, 2011 and October 10, 2013, the Respondent falsified the signatures or initials of clients KM, MM, JT, NC, and AD on 9 account forms in order to process transactions, and altered his notes from meetings with clients KM, MM and JT to falsely record that the clients had signed the account forms, contrary to MFDA Rule 2.1.1.
Allegation #2: In about August 2013, the Respondent failed to disclose to clients KM and MM that he had processed mutual fund transactions in the clients' account without disclosing that deferred sales charges applied to the transactions, contrary to MFDA Rule 2.4.4.
Allegation #3: Between December 19, 2013 and December 31, 2013, the Respondent engaged in unauthorized discretionary trading in the account of clients NC and AD, contrary to MFDA Rules 2.3.1 and 2.1.1.
Allegation #4: Between December 12, 2013 and February 12, 2014, the Respondent obtained, possessed and/or used at least two pre-signed client account forms, contrary to MFDA Rule 2.1.1.
The first appearance in this proceeding will take place by teleconference before a Hearing Panel of the MFDA's Prairie Regional Council on July 25, 2016 at 10:00 a.m. (Mountain), or as soon thereafter as the matter can be heard, 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 800 - 6th Avenue S.W., Suite 850, Calgary, Alberta, 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 Calgary, Alberta at a time and venue to be announced.
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 carried on business in the Calgary, Alberta area.
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, firstname.lastname@example.org; Mark Stott, Vice-President, Prairie Region, 403-215-8329, email@example.com