TORONTO, July 10, 2012 /CNW/ - The MFDA today announced that it has
commenced disciplinary proceedings in respect of Kenneth Rattenbury
(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 August 26, 2004 and November 18, 2010, the Respondent
maintained and used 63 photocopies of trade instruction forms signed by
clients in blank to process trades in the accounts of 10 clients,
thereby failing to observe high standards of ethics and conduct in the
transaction of business, contrary to MFDA Rule 2.1.1(b).
The first appearance in this matter will take place by teleconference
before a Hearing Panel of the MFDA's Prairie Regional Council on August
17, 2012 at 10:00 a.m. (Mountain) in the MFDA hearing room located at
800 - 6th Avenue S.W., Suite 850, Calgary, Alberta. 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.
A copy of the Notice of Hearing is available on the MFDA website at www.mfda.ca.
The MFDA is the self-regulatory organization for Canadian mutual fund
dealers, regulating the operations, standards of practice and business
conduct of its 121 Members and their approximately 75,000 Approved
Persons with a mandate to protect investors and the public interest.
SOURCE Mutual Fund Dealers Association of Canada
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