TORONTO, March 28, 2013 /CNW/ - A Settlement Hearing in the matter of Grant Bryan Page (the "Respondent") was held yesterday in Winnipeg, Manitoba before a Hearing Panel of the MFDA's Prairie Regional Council.
The Hearing Panel accepted the Settlement Agreement between MFDA Staff and the Respondent, as a consequence of which the Respondent has paid a fine of $5,000 and $2,500 in costs. The Respondent also agreed to comply in future with all MFDA By-laws, Rules and Policies, and all applicable securities legislation and regulations, including MFDA Rule 2.1.1.
In the Settlement Agreement, the Respondent admitted that between November 2007 and June 2011 he engaged in a practice unbecoming an Approved Person by maintaining and using partially completed and blank forms signed by clients to conduct Member business, contrary to 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 115 Members and their approximately 80,000 Approved Persons with a mandate to protect investors and the public interest.
SOURCE: Mutual Fund Dealers Association of Canada
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