TORONTO, Dec. 14, 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 Robert John Kent (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 between about April 2013 and July 2014, the Respondent obtained, and used to process trades, 11 pre-signed Order Instructions forms in respect of 8 clients, contrary to MFDA Rule 2.1.1.
The settlement hearing is scheduled to take place on March 4, 2016, commencing at 10:00 a.m. (Newfoundland), or as soon thereafter as the matter can be heard, at a venue to be announced in St. John's, Newfoundland. The hearing will be open to the public, unless and to the extent that the Hearing Panel determines that all or part of the hearing should proceed in the absence of the public. If the Hearing Panel accepts the settlement agreement, then a copy of the decision of the Hearing Panel and the settlement agreement will be made available to the public.
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 St. John's, Newfoundland.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 102 Members and their approximately 83,000 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]