MFDA announces settlement hearing to take place in respect of James Hunter
TORONTO, ON, Sept. 23, 2020 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") commenced a disciplinary proceeding in respect of James Alexander Hunter ("Respondent") by Notice of Hearing dated February 10, 2020.
As the result of a settlement agreement entered into between Staff of the MFDA and the Respondent, a settlement hearing will take place by electronic hearing on September 30, 2020 at 10:00 a.m. (Pacific), or as soon thereafter as the matter can be held. Members of the public who would like to obtain particulars should contact [email protected].
The subject matter of the proposed settlement agreement concerns matters for which the Respondent may be disciplined pursuant to ss. 20 and 24.1.1 of By-law No. 1 of the MFDA. In particular, the settlement agreement concerns allegations that the Respondent:
a) |
between February 2009 and March 2017, altered and, in some instances, used to process transactions, 78 account forms in respect of 57 clients by altering information on the account forms without having the clients initial the alterations, contrary to MFDA Rule 2.1.1 |
b) |
between January 2013 and February 2017 obtained, possessed, and in some instances, used to process transactions, 26 pre-signed account forms in respect of 20 clients, contrary to MFDA Rule 2.1.1. |
MFDA settlement hearings are typically held in the absence of the public pursuant to section 20.5 of MFDA By-law No. 1 and Rule 15.2(2) of the MFDA Rules of Procedure. If the Hearing Panel accepts the settlement agreement, then the proceeding will become open to the public and a copy of the decision of the Hearing Panel and the settlement agreement will be made available at www.mfda.ca.
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 conducted business in the Vancouver, British Columbia 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, Vice-President, Enforcement, 416-943-4619, [email protected]; Jeff Mount, Vice-President, Pacific Region, 604-694-8846, [email protected]
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