TORONTO, Nov. 11, 2016 /CNW/ - A settlement hearing in the matter of Tanis Karen Techer (the "Respondent") was held on November 8, 2106 in Edmonton, Alberta 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:
- shall be prohibited for three (3) months from conducting securities related business in any capacity while in the employ of or associated with any Member of the MFDA;
- has paid a fine in the amount of $5,000;
- has paid costs in the amount of $2,500; and
- shall in future comply with MFDA Rule 2.1.1.
In the Settlement Agreement, the Respondent admitted that:
a) on or about September 8, 2011, she falsified and used to process a transaction, one client account form in relation to one client, by altering the client account form without having the client initial the alteration, contrary to MFDA Rule 2.1.1; and
b) between January 24, 2012 and August 19, 2016, she obtained, possessed and, in three instances, used to process transactions, 9 pre-signed client account forms in relation to 5 clients, contrary to MFDA Rule 2.1.1.
A copy of the Settlement Agreement is available on the MFDA website at www.mfda.ca. During the period described in the Settlement Agreement, the Respondent carried on business in the Edmonton, Alberta area.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 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