MFDA announces settlement hearing to take place in respect of Robert Kujala
TORONTO, May 7, 2015 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") commenced a disciplinary proceeding in respect of Robert Kelly Kujala (the "Respondent") by Notice of Hearing (the "Notice of Hearing") dated December 19, 2014.
As the result of a settlement agreement entered into between Staff of the MFDA and the Respondent, the settlement hearing in this proceeding will take place on May 7, 2015 commencing at 10:00 a.m. (Pacific), or as soon thereafter as the hearing can be held, in the hearing room at Charest Reporting Inc., located at 1650 – 885 West Georgia Street, Vancouver, British Columbia.
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 from March 10, 2009 to May 2, 2013, the Respondent obtained, and used 27 partially completed, pre-signed Letters of Direction redemption requests to process transactions for eight (8) clients, contrary to MFDA Rule 2.1.1.
The hearing will be open to the public, unless and to the extent that the Hearing Panel determines that all or part of the hearing should proceed in the absence of the public. If the Hearing Panel accepts the settlement agreement, then a copy of the decision of the Hearing Panel and the settlement agreement will be made available to the public.
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 Coquitlam, 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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