MFDA announces disciplinary proceeding in respect of Alex Lam

TORONTO, July 9, 2012 /CNW/ - The MFDA today announced that it has commenced disciplinary proceedings in respect of Alex Wai Yuk Lam (the "Respondent"). MFDA staff alleges in its Notice of Hearing that the Respondent engaged in the following conduct contrary the By-laws, Rules or Policies of the MFDA:

Allegation #1: Between 2002 and 2010, the Respondent obtained and maintained 28 blank and incomplete pre-signed forms for 16 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 first appearance in this matter will take place by teleconference before a Hearing Panel of the MFDA's Central Regional Council on August 8, 2012 at 10:00 a.m. (Eastern) in the MFDA hearing room located at 121 King Street West, Suite 1000, Toronto, Ontario. The purpose of the appearance is to set a date for the hearing of this matter on its merits and to address any other procedural matters and will be open to the public, except as may be required for the protection of confidential matters.

A copy of the Notice of 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 121 Members and their approximately 75,000 Approved Persons with a mandate to protect investors and the public interest.

Shaun Devlin
Vice-President, Enforcement
416-943-4672 or [email protected]