TORONTO, Dec. 13 /CNW/ - The Mutual Fund Dealers Association of Canada
("MFDA") today announced that it has commenced disciplinary proceedings
against Laurier Capital Planning Inc. (the "Laurier").
MFDA staff alleges in its Notice of Hearing that Laurier engaged in the
following conduct contrary to the By-laws, Rules or Policies of the
Allegation #1: From January 24, 2008 to May 15, 2008, Laurier failed to ensure that
tier-one supervision of trading activity was adequately implemented and
maintained in that Laurier did not review the suitability of trading in
Allegation #2: From January 24, 2008 to May 15, 2008, Laurier failed to ensure that
tier-two supervision was adequately implemented and maintained in that
(i) failed to adequately review the suitability of trade
recommendations in client accounts; and
(ii) failed to conduct reviews for excessive trading and off-book
trading in client accounts.
The first appearance in this matter will take place by teleconference
before a Hearing Panel of the MFDA's Prairie Regional Council on
January 18, 2011 at 11:00 a.m. (Mountain), or as soon thereafter as the
appearance can be held. The purpose of the first appearance is to
schedule the date for the hearing of this matter on its merits and
address any other procedural matters and will be open to the public,
except as may be required for the protection of confidential matters. A
copy of the Notice of Hearing is available on the MFDA website at www.mfda.ca.
The MFDA is the self-regulatory organization for Canadian mutual fund
dealers, regulating the operations, standards of practice and business
conduct of its 136 Members and their approximately 75,000 Approved
Persons with a mandate to protect investors and the public interest.
SOURCE Mutual Fund Dealers Association of Canada
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