TORONTO, Sept. 13, 2012 /CNW/ - The MFDA today announced that it has issued a Notice of Settlement Hearing regarding the presentation, review and consideration of a proposed settlement agreement by a Hearing Panel of the MFDA's Pacific Regional Council.
The settlement agreement will be between Staff of the MFDA and Corey William McPherson (the "Respondent") and involves matters for which the Respondent may be disciplined by a Hearing Panel pursuant to MFDA By-laws.
The proposed Settlement Agreement concerns allegations that the Respondent failed to observe high standards of ethics and conduct in the transaction of business by falsifying a client signature on a client account document which was required by the Member in order to facilitate the completion of the transfer of monies from another financial institution by ensuring the correct mutual fund was purchased with the transferred monies, contrary to MFDA Rule 2.1.1(b).
The settlement hearing is scheduled to take place on September 17, 2012 commencing at 10:00 a.m. (Pacific) in the hearing room located at the Victoria Conference Centre - Level Two, 720 Douglas Street, Victoria, British Columbia. The hearing will be open to the public, except as may be required for the protection of confidential matters.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 120 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
For further information:
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