TORONTO, Nov. 9, 2015 /CNW/ - A Hearing Panel of the Prairie Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA") has issued its Reasons for Decision in connection with a settlement hearing held in Edmonton, Alberta on October 15, 2015 in the matter of Joanne Elizabeth Williamson (the "Respondent"). The Reasons for Decision relate to the Hearing Panel's acceptance of the settlement agreement (the "Settlement Agreement") entered into between the Respondent and Staff of the MFDA. In its Reasons for Decision dated November 6, 2015, the Hearing Panel confirmed the following sanctions imposed on the Respondent:
- a fine in the amount of $11,000;
- costs in the amount of $2,500; and
- shall in the future comply with MFDA Rule 2.1.1.
In the Settlement Agreement, the Respondent admitted that, between September 25, 2006 and December 23, 2013, she obtained, maintained and, in some instances, used to process transactions, 136 pre-signed blank or partially completed forms in respect of 69 client accounts, contrary to MFDA Rule 2.1.1.
Copies of the Reasons for Decision and Settlement Agreement are available on the MFDA website at www.mfda.ca. During the period described in the Reasons for Decision, the Respondent conducted business in Cold Lake, Alberta.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 102 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