TORONTO, Sept. 6, 2018 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") has commenced disciplinary proceedings in respect of Nand Kishor Singh Gusain ("Respondent"). In its Notice of Hearing dated August 16, 2018, 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 January 2010 and June 2015, the Respondent falsified, and used to process transactions, 16 account forms in respect of eight clients by altering information on the account forms without having the client initial the alterations, contrary to MFDA Rule 2.1.1.
Allegation #2: Between January 2016 and August 2016, the Respondent obtained, possessed, and in some instances, used to process transactions, five pre-signed account forms in respect of four clients, 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 Central Regional Council on September 27, 2018 at 9:00 a.m. (Eastern), or as soon thereafter as the appearance can be held, 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. Members of the public who would like to listen to the teleconference should contact [email protected] to obtain particulars.
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 82,000 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]