TORONTO, March 19, 2012 /CNW/ - A Settlement Hearing in the matter of Chad Mackenzie Peters (the "Respondent") was held today in Toronto, Ontario before a Hearing Panel of the MFDA's Central Regional Council.
The Hearing Panel accepted the Settlement Agreement between the Respondent and MFDA Staff, as a consequence of which the Respondent has paid costs in the amount of $1,000 and has been prohibited from conducting securities related business in any capacity while in the employ of, or in association with, any MFDA Member for a period of two years.
In the Settlement Agreement, the Respondent admitted that:
|i)||on or about December 22, 2010, he completed parts of an account opening document for client EG and falsified the signature of client EG on the document, contrary to MFDA Rule 2.1.1; and|
|ii)||on or about December 23, 2010, he interfered with the ability of the Member to conduct a reasonable supervisory investigation of his conduct by providing a false response to the Member in the course of its investigation, before admitting to the falsification, contrary to MFDA Rules 1.1.2, 2.5.1, and MFDA Rule 2.1.1.|
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 124 Members and their approximately 75,000 Approved Persons with a mandate to protect investors and the public interest.
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