TORONTO, Nov. 30 /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 Ben Alden Kaley (the "Respondent") and involves matters for which the Respondent may be disciplined by a Hearing Panel pursuant to MFDA By-laws.
The subject matter of the proposed settlement agreement concerns allegations that the Respondent:
(a) engaged in securities related business that was not carried on for
the account of and through the facilities of the Member, contrary to
MFDA Rule 1.1.1(a); and
(b) had and continued in another gainful occupation that was not properly
disclosed to and approved by the Member, contrary to MFDA Rule
The settlement hearing is scheduled to commence at 10:00 a.m. (Atlantic), or as soon thereafter as the hearing can be held, on December 3, 2009 in the Hearing Room located at the Crowne Plaza Fredericton, 659 Queen Street, Fredericton, New Brunswick. 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.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 144 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: For further information: Shaun Devlin, Vice-President, Enforcement, (416) 943-4672 or firstname.lastname@example.org