TORONTO, Sept. 26, 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 Prairie Regional Council.
The settlement agreement will be between Staff of the MFDA and Kenneth Rattenbury (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, between August 26, 2004 and November 18, 2010, maintained and used 63 photocopies of trade instruction forms signed by clients in blank to process trades in the accounts of 10 clients, thereby failing to observe high standards of ethics and conduct in the transaction of business, contrary to MFDA Rule 2.1.1(b).
The settlement hearing is scheduled to take place on October 17, 2012 at 10:00 a.m. (Mountain) in the hearing room located at the Shaw Conference Centre, 9797 Jasper Avenue Northwest, Edmonton, Alberta. 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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