TORONTO, Oct. 28 /CNW/ - The Mutual Fund Dealers Association of Canada
("MFDA") today announced that it has commenced disciplinary proceedings
against Purisima Dy (the "Respondent").
MFDA staff alleges in its Notice of Hearing that the Respondent engaged
in the following conduct contrary to the By-laws, Rules or Policies of the
Allegation No. 1: The Respondent was convicted in June 2007 for fraud
---------------- contrary to s. 380(1)(a) of the Criminal Code and
thereby failed to observe high standards of ethics and conduct in the
transaction of business and be of such character and business repute as
is consistent with the standards prescribed by MFDA Rule 2.1.1.
Allegation No. 2: From at least February 2006 to April 2006, the
----------------- Respondent had or continued in an occupation that was
not disclosed to or approved by the Member, contrary to MFDA Rule 1.2.1
Allegation No. 3: The Respondent failed to fully, honestly and
----------------- accurately disclose in her 1999 Uniform Application
for registration as a mutual fund salesperson with the Ontario Securities
Commission (the "OSC") her 1995 convictions for tax evasion under s. 239
(1)(d) and 239(1)(a) of the Income Tax Act, and thereby failed to observe
high standards of ethics and conduct in the transaction of business and
be of such character and business repute as is consistent with the
standards prescribed by MFDA Rule 2.1.1.
The first appearance in this matter will take place by teleconference
before a Hearing Panel of the MFDA Central Regional Council in the Hearing
Room located at the offices of the MFDA, 121 King Street West, Suite 1000,
Toronto, Ontario on Monday, January 19, 2009 at 10:00 a.m. (Eastern) 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 155 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