MFDA issues Notice of Settlement Hearing in respect of Arron Appleton

TORONTO, Oct. 10, 2013 /CNW/ - The MFDA today announced that it has issued a Notice of Settlement Hearing regarding the presentation, review and consideration of a proposed settlement agreement by a Hearing Panel of the MFDA's Central Regional Council.

The settlement agreement will be between Staff of the MFDA and Arron John Appleton (the "Respondent") and involves matters for which the Respondent may be disciplined by a Hearing Panel pursuant to MFDA By-laws.

The proposed settlement agreement concerns allegations that between March 28, 2006 and May 15, 2012, the Respondent obtained, maintained and/or used approximately 24 account forms in 8 client accounts where the account forms were signed by the clients when the account forms were blank or only partially complete, contained photocopies of client signatures, or were altered with correction fluid after the client had signed the account form without any evidence of client approval of the changes to the account form, contrary to MFDA Rule 2.1.1.

The Settlement Hearing is scheduled to take place on October 23, 2013 at 10:00 a.m. (Eastern), or as soon thereafter as the hearing can held, in the MFDA hearing room located at 121 King Street West, Suite 1000, Toronto, Ontario. The hearing will be open to the public, except as may be required for the protection of confidential matters.

A copy of the Notice of Settlement 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 115 Members and their approximately 80,000 Approved Persons with a mandate to protect investors and the public interest.

SOURCE: Mutual Fund Dealers Association of Canada

Hugh Corbett
Managing Director, Enforcement
416-943-4685
[email protected]