MFDA announces disciplinary proceeding in respect of Robert Douglas Johnston
TORONTO, June 11, 2019 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") has commenced disciplinary proceedings in respect of Robert Douglas Johnston ("Respondent"). In its Notice of Hearing dated May 9, 2019, 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 August 2014 and April 2015, the Respondent obtained, possessed, and used to process transactions, seven pre-signed account forms in respect of four clients, contrary to MFDA Rule 2.1.1.
Allegation #2: Between October 2012 and February 2016, the Respondent altered and used to process transactions, 14 client forms in respect of 12 clients, by altering information on the account forms without having the clients initial the alterations, contrary to MFDA Rule 2.1.1.
Allegation #3: Between September 2010 and March 2016, the Respondent:
a) |
directed his assistant, for whom he was responsible, to falsely indicate that she had |
b) |
submitted one client Limited Trading Authorization form to the Member for processing |
contrary to the Member's policies and procedures, and MFDA Rules 2.5.1, 1.1.2, and 2.1.1.
The first appearance in this proceeding will take place by teleconference before a Hearing Panel of the MFDA's Prairie Regional Council on July 24, 2019 at 10:00 a.m. (Mountain), having initially been scheduled on June 27, 2019 at 10:30 a.m. (Mountain). The purpose of the first appearance is to schedule a date for the commencement of the hearing on the merits and to address any other procedural matters. The appearance will be open to the public, except as may be required for the protection of confidential matters. Members of the public who would like to listen to the teleconference should contact [email protected] to obtain particulars. The Hearing on the Merits will take place in Winnipeg, Manitoba.
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 Thompson, Manitoba area.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its Members and their approximately 81,000 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
Charles Toth, Director, Litigation, 416-943-4619, [email protected]; Mark Stott, Vice-President, Prairie Region, 403-215-8329, [email protected]
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