MFDA announces settlement hearing to take place in respect of Tony Nathan Estabrooks

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Mutual Fund Dealers Association of Canada

Jul 11, 2016, 16:39 ET

TORONTO, July 11, 2016 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") commenced a disciplinary proceeding in respect of Tony Nathan Estabrooks (the "Respondent") by Notice of Settlement Hearing (the "Notice of Settlement Hearing") dated June 28, 2016.

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 July 18, 2016, commencing at 10:00 a.m. (Mountain), or as soon thereafter as the matter can be heard, at the Delta Edmonton Centre Suite, located at 10222 102 Street, Edmonton, Alberta.

The subject matter of the proposed settlement agreement concerns allegations that:

a)   

between January 2015 and April 2015, the Respondent altered and used to process transactions, two (2) client account forms in relation to two (2) clients, by altering the dates on previously used client account forms without having the clients initial the alterations, contrary to MFDA Rule 2.1.1; and


b)   

between October 2014 and April 2015, the Respondent obtained, possessed and used to process transactions, 26 pre-signed account forms in respect of 13 clients, contrary to MFDA Rule 2.1.1.

A copy of the Notice of Settlement Hearing is available on the MFDA website at www.mfda.ca. During the period described in the Notice of Settlement Hearing, the Respondent carried on business in Edmonton, Alberta.

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 83,000 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]

Organization Profile

Mutual Fund Dealers Association of Canada

The Mutual Fund Dealers Association of Canada (MFDA) is the national self-regulatory organization (SRO) for the distribution side of the Canadian mutual fund industry. It was established in June 1998 at the initiative of the Canadian Securities Administrators. The MFDA...