TORONTO, March 26 /CNW/ - The Mutual Fund Dealers Association of Canada
("MFDA") today announced that it has commenced disciplinary proceedings
against Brian Campbell.
MFDA staff alleges in its Notice of Hearing that Mr. Campbell engaged in
the following conduct contrary to the By-laws, Rules or Policies of the MFDA:
Allegation No. 1: Commencing in or about 2002, the Respondent
conducted trades in the accounts of clients of the Member without
first obtaining instructions from the clients for each trade made,
thereby engaging in discretionary trading beyond the terms of his
registration as a mutual fund salesperson, contrary to MFDA Rule
Allegation No. 2: Commencing in or about 2002, the Respondent
collected portfolio management fees from clients of the Member in
respect of trades made by the Respondent in the accounts of the
clients, thereby accepting remuneration from persons other than the
Member in respect of business carried out by the Respondent on behalf
of the Member, contrary to MFDA Rule 2.4.1.
Allegation No. 3: Commencing in or about 2002, the Respondent engaged
in discretionary trading in the accounts of clients of the Member and
collected portfolio management fees from those clients, thereby
engaging in portfolio management activity contrary to the express
terms and conditions imposed on his registration as a mutual fund
salesperson by the British Columbia Securities Commission, contrary
to MFDA Rule 2.1.1.
Allegation No. 4: On March 13, 2006, the Respondent had in his
possession 68 blank pre-signed forms, contrary to MFDA Rule 2.1.1.
(i) 63 blank pre-signed trade execution forms which he obtained and
maintained for the purpose of conducting discretionary trading
in client accounts; and
(ii) 5 blank pre-signed new account application forms which he
obtained and maintained for the purpose of altering know-your-
client information to suit trades he conducted in client
Allegation No. 5: On September 26, 2006 and February 14, 2007, the
Respondent made false or misleading statements to the MFDA during the
course of an investigation, contrary to MFDA Rule 2.1.1.
Allegation No. 6: Commencing February 2007, the Respondent failed to
produce for inspection and provide copies of documents and other
information relevant to matters being investigated by the MFDA,
contrary to section 22.1 of MFDA By-law No. 1.
The first appearance in this matter will take place by teleconference
before a Hearing Panel of the MFDA Pacific Regional Council in the Hearing
Room located at the offices of the MFDA at 650 West Georgia Street, Suite
1220, Vancouver, British Columbia on Tuesday, April 22, 2008 at 10:00 a.m.
(Vancouver) or as soon thereafter as can be held.
The purpose of the first appearance is to schedule the date for the
commencement of the hearing on its merits and to address any other procedural
The first appearance is open to the public, except as may be required for
the protection of confidential matters. Members of the public attending the
first appearance will be able to listen to the proceeding by teleconference.
A copy of the Notice of Hearing is available on the MFDA website at
The Mutual Fund Dealers Association of Canada is the self-regulatory
organization for Canadian mutual fund dealers. The MFDA regulates the
operations, standards of practice and business conduct of its 158 Members and
their approximately 75,000 Approved Persons with a mandate to protect
investors and the public interest.
For further information:
For further information: Shaun Devlin, Vice-President, Enforcement,
(416) 943-4672 or email@example.com