MFDA Hearing Panel approves settlement agreement with Lenore Tochor
TORONTO, Oct. 25, 2018 /CNW/ - A settlement hearing in the matter of Lenore Patricia Tochor ("Respondent") was held on October 24, 2018 in Edmonton, Alberta before a three-person Hearing Panel of the Prairie Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA").
The Hearing Panel approved the settlement agreement dated July 4, 2018 ("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 $14,500;
- costs in the amount of $2,500; and
- shall in the future comply with MFDA Rule 2.1.1.
In the Settlement Agreement, the Respondent admitted that:
a) |
between February 2013 and May 2016, she altered 14 account 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; and |
b) |
between January 2009 and January 2016, she obtained, possessed, and used to process transactions, ten pre-signed account forms in respect of six clients, 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 Grand Prairie, Alberta 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 82,000 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
please contact: Charles Toth, Managing Director, Litigation, 416-943-4619, [email protected]; Mark Stott, Vice-President, Prairie Region, 403-215-8329, [email protected]
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