TORONTO, April 30, 2012 /CNW/ - The MFDA today announced that it has commenced disciplinary proceedings in respect of Raymond Ho (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: On or about May 5, 2010, the Respondent failed to deal fairly, honestly and in good faith with client DH by falsifying client DH's signature on a New Account Application Form in order to open an account in DH's name and purchase $192,000 of a mutual fund for the account, contrary to MFDA Rule 2.1.1.
The first appearance in this matter will take place by teleconference before a Hearing Panel of the MFDA's Pacific Regional Council on May 28, 2012 at 10:00 a.m. (Pacific) in the MFDA hearing room located at 650 West Georgia Street, Suite 1220, Vancouver, British Columbia. 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 123 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]