TORONTO, March 31, 2020 /CNW/ - A settlement hearing in the matter of Robyn Courtney Kee ("Respondent") was held today in Toronto, Ontario before a three-member Hearing Panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA").
The Hearing Panel approved the settlement agreement dated March 5, 2020 ("Settlement Agreement") between Staff of the MFDA and the Respondent, as a consequence of which the following sanctions were imposed on the Respondent:
- a prohibition from conducting securities related business in any capacity while in the employ of or associated with a Member of the MFDA for a period of six months;
- costs in the amount of $2,500, payable in installments as follows:
- $500 upon acceptance of the Settlement Agreement;
- $333.33 on or before May 31, 2020;
- $333.33 on or before July 31, 2020;
- $333.33 on or before September 30, 2020;
- $333.33 on or before November 30, 2020;
- $333.33 on or before January 31, 2021;
- $333.33 on or before March 31, 2021; and
- shall in the future comply with MFDA Rule 2.1.1.
In the Settlement Agreement, the Respondent admitted that between October 2017 and October 2018:
she cut and pasted one client signature from a previously completed account form onto a new account form; and
on five occasions, photocopied the signature page from a previously completed account form and attached it to a new account form,
and submitted the new account forms to the Member for processing, 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 Greater Toronto, Ontario 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 81,000 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
For further information: Charles Toth, Vice-President, Enforcement, 416-943-4619, [email protected]