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.
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.
For further information:
416-943-4672 or [email protected]