MFDA Hearing Panel issues Reasons for Decision in the matter of John Kehoe

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Mutual Fund Dealers Association of Canada

Feb 28, 2018, 19:02 ET

TORONTO, Feb. 28, 2018 (Toronto, Ontario) – A Hearing Panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA") has issued its Reasons for Decision dated February 27, 2018 in connection with a settlement hearing held in Toronto, Ontario on January 25, 2018 in the matter of John Charles Kehoe ("Respondent").

In its Reasons for Decision, the Hearing Panel confirmed the sanctions imposed on the Respondent, namely:

  • a fine in the amount of $10,000;
  • costs in the amount of $2,500; and
  • in the future shall comply with MFDA Rule 2.1.1.

In the Settlement Agreement dated November 17, 2017, the Respondent admitted that:

a)    

 between October 2014 and June 2015, he falsified, and in at least one instance, used to process a transaction, four account forms in respect of four clients, by altering information on the account forms without having the client initial the alterations, contrary to MFDA Rule 2.1.1; and

b)  

 between May 2015 and February 2016, he obtained, possessed, and in at least 16 instances, used to process transactions, 45 pre-signed account forms in respect of eight clients, 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 conducted business in the Toronto, 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 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]

Related Links

http://www.mfda.ca

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Mutual Fund Dealers Association of Canada

The Mutual Fund Dealers Association of Canada (MFDA) is the national self-regulatory organization (SRO) for the distribution side of the Canadian mutual fund industry. It was established in June 1998 at the initiative of the Canadian Securities Administrators. The MFDA...