TORONTO, Dec. 6, 2019 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") has commenced disciplinary proceedings in respect of Rohit Jaswal (the "Respondent"). In its Notice of Hearing dated November 12, 2019 ("Notice of Hearing"), 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: In or around July 2017, the Respondent processed two unauthorized trades in accounts of client PS, contrary to the Member's policies and procedures, and MFDA Rules 2.3.1(b), 2.1.1, 2.5.1, 2.10, and 1.1.2.
Allegation #2: Between June and July 2017, the Respondent processed three trades in three client accounts without maintaining adequate records of client trade instructions, contrary to the policies and procedures of the Member, and MFDA Rules 5.1(b), 2.5.1, 2.10, 1.1.2, and 2.1.1.
Allegation #3: Between May and June 2017, the Respondent obtained, possessed, and used to process transactions, seven pre-signed account forms in respect of four clients, contrary to the Member's policies and procedures and MFDA Rules 2.1.1, 2.5.1, 2.10, and 1.1.2.
The first appearance in this proceeding will take place by teleconference before a Hearing Panel of the MFDA's Pacific Regional Council on January 7, 2020 at 9:00 a.m. (Pacific), 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 Hearing on the Merits will take place in Vancouver, British Columbia.
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 Surrey, British Columbia 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 81,000 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