TORONTO, Oct. 12, 2012 /CNW/ - A Settlement Hearing in the matter of Ian Michael Peer (the "Respondent") was held yesterday in Toronto, Ontario before a Hearing Panel of the MFDA's Central 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 in the amount of $2,500;
- the Respondent has paid costs in the amount of $2,500;
- the Respondent shall in the future comply with MFDA Rule 2.1.1.
In the Settlement Agreement, the Respondent admitted that in June 2011, he falsified the initials of clients KM and PM on client account documents, 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 120 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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