TORONTO, Aug. 6, 2015 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") commenced a disciplinary proceeding in respect of Michael Gordon Prueter (the "Respondent") by Notice of Hearing (the "Notice of Hearing") dated April 30, 2015.
As the result of a settlement agreement entered into between Staff of the MFDA and the Respondent, the settlement hearing in this proceeding will take place on August 10, 2015 commencing at 10:00 a.m. (Pacific), in the hearing room at the British Columbia Securities Commission, located at 1200-701 West Georgia Street, Vancouver, British Columbia.
The subject matter of the proposed settlement agreement concerns matters for which the Respondent may be disciplined pursuant to ss. 20 and 24.1.1 of By-law No. 1 of the MFDA. In particular, the settlement agreement concerns allegations that between September 2003 and February 2013, the Respondent had and continued in at least three (3) other gainful occupations which were not disclosed to and approved by the Member, including:
a) acting as the sole director, Secretary and operator of a financing corporation;
b) acting as the sole director, President, Secretary, Treasurer, and controlling shareholder of a corporation to develop a hotel in Quebec; and
c) acting as a director and operator of a corporation to develop an aquaculture plant in British Columbia;
contrary to MFDA Rules 1.2.1(c) (formerly MFDA Rule 1.2.1(d)), 2.4.2 and 2.1.1.
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 areas of Burnaby and Maple Ridge, British Columbia.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 103 Members and their over 80,000 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