TORONTO, Oct. 28, 2015 /CNW/ - A settlement hearing in the matter of Adam Alexander Aleshka (the "Respondent") was held yesterday in Winnipeg, Manitoba before a three-member Hearing Panel of the Prairie Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA"). The Hearing Panel accepted the settlement agreement (the "Settlement Agreement") between Staff of the MFDA and the Respondent, as a consequence of which the Respondent:
- has paid a fine in the amount of $5,000;
- has paid costs in the amount of $2,500; and
- shall in the future comply with MFDA Rule 2.1.1.
In the Settlement Agreement the Respondent admitted that between February 20, 2012 and February 16, 2014, he obtained and used 29 pre-signed partially completed or photocopied versions of pre-signed partially completed forms in respect of 14 client accounts, contrary to MFDA Rule 2.1.1(c)
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 102 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