MFDA announces disciplinary proceeding in respect of Michael Prueter
TORONTO, May 28, 2015 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") has commenced disciplinary proceedings in respect of Michael G. Prueter (the "Respondent"). In its Notice of Hearing dated April 30, 2015, Staff of the MFDA alleges that the Respondent engaged in the following conduct contrary to the By-laws, Rules and/or Policies of the MFDA:
Allegation #1: Between September 2003 and February 2013, the Respondent had and continued in at least three (3) other gainful occupations which were not disclosed to and approved by the Member, including:
| a) |
acting as the sole director, Secretary and operator of a financing corporation; |
| b) |
acting as the sole director, President, Secretary, Treasurer, and controlling shareholder of a corporation to develop a hotel in Quebec; and |
| c) |
acting as a director and operator of a corporation to develop an aquaculture plant in British Columbia; |
contrary to MFDA Rules 1.2.1(c) (formerly MFDA Rule 1.2.1(d)), 2.4.2 and 2.1.1.
The first appearance in this proceeding will take place by teleconference before a Hearing Panel of the MFDA's Pacific Regional Council on June 16, 2015 at 10:00 a.m. (Pacific), in order to schedule a date for the commencement of the hearing on the merits and to address any other procedural matters. The first appearance will take place in the hearing room at the MFDA offices, located at 650 West Georgia Street, Suite 1220, Vancouver, British Columbia, and will be open to the public, except as may be required for the protection of confidential matters. The hearing on the merits will take place in Vancouver, British Columbia at a time and venue to be announced.
A copy of the Notice of Hearing is available on the MFDA website at www.mfda.ca. During the period described in the Notice of Hearing, the Respondent carried on business in the areas of Burnaby and Maple Ridge, British Columbia.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 104 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
Shaun Devlin, Senior Vice-President, Member Regulation, Enforcement, 416-943-4672, [email protected]; Jeff Mount, Vice-President, Pacific Region, 604-694-8846, [email protected]
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