TORONTO, Oct. 11, 2016 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") has commenced disciplinary proceedings in respect of Ryan Raymond Edward Dibbley (the "Respondent"). In its Notice of Hearing dated August 15, 2016, 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 October 2012, and May 9, 2014, the Respondent failed to disclose to the Member two outside business activities for which he was named officer and/or director, contrary to MFDA Rules 1.2.1(c) (now Rule 1.3.2) and 2.1.1.
Allegation #2: Between 2013 and May 9, 2014, the Respondent, in his capacity as branch manager, did not adequately query or report to the Member unapproved outside business activities at the branch location supervised by the Respondent, contrary to MFDA Rules 2.5.5(f) and 2.1.1.
Allegation #3: Between 2013 and May 9, 2014, the Respondent, in his capacity as branch manager, failed to adequately query or advise the Member of information concerning financial difficulties at the branch location supervised by the Respondent, contrary to MFDA Rules 2.5.5(f) and 2.1.1.
Allegation #4: Starting April 6, 2014, the Respondent failed to report to the Member that an Approved Person, who was the owner and operator of the branch location supervised by the Respondent, terminated another Approved Person at the branch, contrary to MFDA Rules 1.1.2, 2.5.1, 2.1.1, and National Instrument 31-109.
The first appearance in this proceeding will take place by teleconference before a Hearing Panel of the MFDA's Central Regional Council on November 2, 2016 at 9:30 a.m. (Eastern), or as soon thereafter as the appearance can be held, in order to schedule a date for the commencement of the hearing on the merits and to address any other procedural matters. The first appearance 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 Members and their approximately 83,000 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]