MFDA Hearing Panel issues Decision (Misconduct) and Reasons in the matter of Joel Attis

TORONTO, July 6, 2022 /CNW/ - A Hearing Panel of the Atlantic Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA") has issued its Decision (Misconduct) and Reasons dated July 5, 2022 ("Decision and Reasons") in connection with a disciplinary hearing held electronically by videoconference in Moncton, New Brunswick on July 12-16, 2021 and October 26, 2021 in the matter of Joel Henry Attis (the "Respondent").

In its Decision and Reasons, the Hearing Panel outlined its findings of misconduct made against the Respondent. In particular, the Panel found that the Respondent:

     a)  between December 2015 and August 2017, engaged in discretionary trading in respect of four series of bulk trades he processed in client accounts, contrary to the Member's policies and procedures, and MFDA Rules 2.3.1(b), 1.1.2, 2.5.1, or Rule 2.1.1.

     b)  between December 2015 and August 2017, failed to maintain adequate records of the clients' authorization for trades, contrary to the Member's policies and procedures and MFDA Rules 5.1, 1.1.2 and 2.5.1, or Rule 2.1.1.

Submissions with respect to sanctions will take place electronically by videoconference before the Hearing Panel on a date to be determined and announced accordingly.

A copy of the Decision (Misconduct) and Reasons is available on the MFDA website at www.mfda.ca. During the period described in the Decision (Misconduct) and Reasons, the Respondent carried on business in Moncton, New Brunswick.

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 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

For further information, please contact: Charles Toth, Vice-President, Enforcement, 416-943-4619, [email protected]