TORONTO, June 3, 2013 /CNW/ - The MFDA commenced proceedings in respect of W. H. Stuart Mutuals Ltd. ("W.H. Stuart") and Marilyn Dianne Stuart ("Stuart") by Notice of Application issued April 29, 2013.
An appearance in this proceeding took place on May 31, 2013 by teleconference before a 3-person Hearing Panel of the MFDA's Central Regional Council. Following submissions from Staff of the MFDA and counsel for Ms. Stuart, the Hearing Panel, among other orders, suspended the rights and privileges of MFDA membership of W. H. Stuart pursuant to section 24.3.3 of MFDA By-law No. 1. The Hearing Panel advised that it will issue written reasons for its decisions concerning matters raised during this application proceeding in due course and adjourned the proceeding indefinitely. Any party to the proceeding is permitted to request a further appearance before the Hearing Panel on a minimum of 5 days' notice.
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
For further information:
Director of Litigation