MFDA issues Notice of Hearing regarding Conrad Nunweiler

TORONTO, Oct. 13 /CNW/ - The MFDA today announced that it has commenced disciplinary proceedings against Conrad Arthur Nunweiler (the "Respondent").

MFDA staff alleges in its Notice of Hearing that the Respondent engaged in the following conduct contrary to the By-laws, Rules or Policies of the MFDA:

	Allegation #1: Between May 2006 and December 12, 2008, the Respondent borrowed monies from at least two clients totaling approximately $56,300, thereby giving rise to an actual or potential conflict of interest which the Respondent failed to address by the exercise of responsible business judgment influenced only by the best interests of the clients, contrary to MFDA Rules 2.1.4 and 2.1.1.
	Allegation #2: Between May 2006 and December 12, 2008, the Respondent failed to comply with the policies and procedures of the Member in respect of conflicts of interest and borrowing from clients by borrowing monies from at least two clients and personally guaranteeing at least one of the loans, contrary to MFDA Rules 1.1.2 and 2.5.1, and MFDA Rule 2.1.1.
	Allegation #3: On October 31, 2008, the Respondent misled the Member by representing to the Member that he had not borrowed from clients when he knew that to be an incorrect statement at the time and in the circumstances when he made it, thereby interfering with the ability of the Member to conduct a reasonable supervisory investigation of the Respondent's activities and failing to observe high standards of ethics and conduct in the transaction of business, contrary to MFDA Rules 1.1.2 and 2.5.1, and MFDA Rule 2.1.1.
	Allegation #4: Commencing March 19, 2009, the Respondent has failed or refused to provide documents, information, and a written statement to the MFDA and to attend an interview requested by the MFDA during the course of an investigation, contrary to s. 22.1 of MFDA By-law No. 1.
	The first appearance in this matter will take place by teleconference before a Hearing Panel of the MFDA's Pacific Regional Council on November 9, 2010 at 10:00 a.m. (Pacific). The purpose of the first appearance is to schedule a date for the commencement of the hearing on the merits and to address any other procedural matters, and will be open to the public, except as may be required for the protection of confidential matters.

A copy of the Notice of Hearing is available on the MFDA website at www.mfda.ca.

The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 137 Members and their approximately 75,000 Approved Persons with a mandate to protect investors and the public interest.

For further information:

Shaun Devlin
Vice-President, Enforcement
416-943-4672 or [email protected]