MFDA Hearing Panel issues Reasons for Decision in the matter of Brian Blundell

TORONTO, June 2, 2016 /CNW/ - A Hearing Panel of the Pacific Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA") has issued its Reasons for Decision in connection with a settlement hearing held in Vancouver, British Columbia on May 12, 2016 in the matter of Brian Blundell (the "Respondent"). The Reasons for Decision relate to the Hearing Panel's acceptance of the settlement agreement (the "Settlement Agreement") entered into between the Respondent and Staff of the MFDA. In its Reasons for Decision dated May 31, 2016, the Hearing Panel confirmed the sanctions imposed on the Respondent:

• a fine in the amount of $10,000;
• costs in the amount of $1,000; and
• in future shall comply with all MFDA By-laws, Rules and Policies and all applicable securities legislation and regulations made thereunder including MFDA Rule 1.1.2, 2.1.1 and 2.5.1.

In the Settlement Agreement, the Respondent admitted that:

(a)	between March 2010 and May 2014, he obtained, maintained and used to process redemptions ten (10) pre-signed account forms in respect of three (3) clients, contrary to MFDA Rule 2.1.1; and
(b)	between 2010 and 2014, he mislead the Member by affirming that he did not obtain or possess any pre-signed account forms when completing Worldsource's Annual Registration Renewal Questionnaire contrary to MFDA Rule 2.1.1.

Copies of the Reasons for Decision and the Settlement Agreement are available on the MFDA website at www.mfda.ca. During the period described in the Reasons for Decision, the Respondent carried on business in the Vancouver, British Columbia 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 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]; Jeff Mount, Vice-President, Pacific Region, 604-694-8846, [email protected]