TORONTO, Dec. 5, 2013 /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 Prairie Regional Council.
The settlement agreement will be between Staff of the MFDA and William James Clarke (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, contrary to MFDA Rule 2.1.1, the Respondent:
|a)||used 115 blank or partially completed pre-signed forms to process transactions in relation to 54 client accounts;|
|b)||obtained and maintained 6 blank or partially completed pre-signed account forms in relation to 6 client accounts; and|
|c)||altered 4 account forms after the clients had signed them;|
The Settlement Hearing is scheduled to take place on February 11, 2014 at 10:00 a.m. (Mountain), or as soon thereafter as the hearing can held, in the hearing room located at the Delta Edmonton Centre Suite Hotel, 10222 - 102 Street, Edmonton, Alberta. The hearing will be open to the public, except as may be required for the protection of confidential matters.
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 carried on business in Edmonton, Alberta.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 113 Members and their approximately 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:
Managing Director, Enforcement
Vice-President, Prairie Region