MFDA Hearing Panel approves settlement agreement with Nathalie Doiron
TORONTO, Nov. 19, 2018 /CNW/ - A settlement hearing in the matter of Nathalie Doiron ("Respondent") was held today in Toronto, Ontario before a three-person Hearing Panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA").
The Hearing Panel approved the settlement agreement dated August 21, 2018 ("Settlement Agreement") between Staff of the MFDA and the Respondent, as a consequence of which the following sanctions were imposed:
- a prohibition from conducting securities related business in any capacity while in the employ of or associated with a MFDA Member for a period of six months; and
- costs in the amount of $2,500.
In the Settlement Agreement, the Respondent admitted that between January 2011 and December 2013, she sent client communications and a sales communication that was not approved by the Member, about precious metals sector mutual funds to a client which:
a) |
contained untrue statements or omitted material facts or were otherwise misleading; |
b) |
contained unjustified promises of specific results; |
c) |
used unrepresentative statistics to suggest unwarranted or exaggerated conclusions, or failed to identify the material assumptions made in arriving at these conclusions; |
d) |
contained opinions or forecasts of future performance which were not clearly labeled as such; |
e) |
failed to fairly present the potential risks to the client; or |
f) |
were detrimental to the interests of the public, the MFDA or its Members; |
contrary to MFDA Rules 2.7.2, 2.7.3, 2.8.2 and 2.1.1. |
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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 Whitby, Ontario.
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
Charles Toth, Managing Director, Litigation, 416-943-4619, [email protected]
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