MFDA Hearing Panel accepts settlement agreement with Jason Dickout
TORONTO, Jan. 22, 2021 /CNW/ - A settlement hearing in the matter of Jason Dickout ("Respondent") was held by electronic hearing on January 20, 2021, before a three-member Hearing Panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA").
The Hearing Panel accepted the settlement agreement dated October 8, 2020 ("Settlement Agreement") between Staff of the MFDA and the Respondent, as a consequence of which the following sanctions were imposed on the Respondent:
- a fine in the amount of $2,500;
- costs in the amount of $2,500;
- a prohibition from conducting securities related business in any capacity while in the employ of or associated with a Member of the MFDA for a period of 6 months; and
- shall in the future comply with MFDA Rule 2.1.1.
In the Settlement Agreement, the Respondent admitted that:
a) |
between December 6, 2018 and December 10, 2018, he signed the signature of 2 clients on 3 account forms, and submitted the account forms to the Member for processing, contrary to MFDA Rule 2.1.1; and |
b) |
between February 20, 2019 and February 26, 2019, he misled the Member during its investigation into his conduct when he falsely stated that clients signed account forms, when the Respondent had signed the client's signature on the account forms, contrary to MFDA Rule 2.1.1. |
A copy of the Settlement Agreement is available on the MFDA website at www.mfda.ca. During the period described in the Settlement Agreement, the Respondent conducted business in the London, Ontario 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]
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