TORONTO, April 4, 2014 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") commenced a disciplinary proceeding in respect of Jeffrey Hanford Harold Young ("Young") and Don Everett Andrews ("Andrews") (collectively, the "Respondents") by Notice of Hearing dated June 11, 2013. Further to an appearance held before a three-member Hearing Panel of the MFDA's Central Regional Council (the "Hearing Panel") on November 11, 2013, the hearing of this matter on its merits was scheduled to commence on Monday, April 7, 2014 at 10:00 a.m. (Eastern) in the MFDA hearing room located at 121 King Street West, Suite 1000, Toronto, Ontario.
As the result of settlement agreements entered into between Staff of the MFDA ("Staff") and each of Young and Andrews, the hearings in this matter will now take place on Tuesday, April 8, 2014 as follows: commencing at 10:00 a.m. (Eastern), the Hearing Panel will consider the settlement agreement entered into between Staff and Andrews; and commencing at 1:00 p.m. (Eastern), the Hearing Panel will consider the settlement agreement entered into between Staff and Young. The location of the hearings remains unchanged.
The subject matter of the proposed settlement agreements concern matters for which the Respondents may be disciplined as Approved Persons of the MFDA, pursuant to ss. 20 and 24.1.1 of By-law No. 1 of the MFDA. The hearings will be open to the public, unless and to the extent that the Hearing Panel determines that all or part of the hearings should proceed in the absence of the public. If the Hearing Panel accepts the settlement agreements, then copies of the decision of the Hearing Panel and the settlement agreements will be made available to the public.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 111 Members and their approximately 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
For further information: Hugh Corbett, Managing Director, Enforcement, 416-943-4685, email@example.com