TORONTO, Oct. 5, 2015 /CNW/ - The Mutual Fund Dealers Association of Canada ("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 Atlantic Regional Council.
The settlement agreement will be between Staff of the MFDA and Dong Hwan (Jack) Lee (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 on March 3, 2014, the Respondent falsified one (1) client's signature on a cheque in order to process a trade in the client's account, contrary to MFDA Rule 2.1.1.
An appearance will take place by teleconference on October 29, 2015 at 10:00 a.m. (Atlantic), or as soon thereafter as the appearance can be held, in order to set a date for a settlement hearing. The appearance will be open to the public, except as may be required for the protection of confidential matters. The settlement hearing, once scheduled, will take place in Moncton, New Brunswick at a time and venue to be announced.
A copy of the Notice of Settlement Hearing is available on the MFDA website at www.mfda.ca. During the period described in the Notice of Settlement Hearing, the Respondent conducted business in the Riverview, New Brunswick area.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 103 Members and their over 80,000 Approved Persons with a mandate to protect investors and the public interest. For more information about the MFDA's complaint and enforcement processes, as well as links to 'Check an Advisor' and other Investor Tools, visit the For Investors page on the MFDA website.
SOURCE Mutual Fund Dealers Association of Canada
For further information: Charles Toth, Director, Litigation, 416-943-4619, [email protected]