MFDA issues Notice of Settlement Hearing in respect of Kathleen Hounsome

TORONTO, March 18, 2014 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") 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 Pacific Regional Council.

The settlement agreement will be between Staff of the MFDA and Kathleen Hounsome (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 the Respondent, between July 2010 and April 2012, engaged in a practice unbecoming an Approved Person by maintaining and using blank forms signed by clients to conduct Member business, contrary to MFDA Rule 2.1.1.

The Settlement Hearing is scheduled to take place on Tuesday, May 20, 2014 at 10:00 a.m. (Pacific), or as soon thereafter as the hearing can be held, in Victoria, British Columbia, at a venue to be announced.

A copy of the Notice of Settlement Hearing is available on the MFDA website at www.mfda.ca. During the period described in the Notice of Settlement Hearing, the Respondent carried on business in Duncan and Chemainus, British Columbia.

The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 111 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

Hugh Corbett, Managing Director, Enforcement, 416-943-4685, [email protected]; Jeff Mount, Vice-President, Pacific Region, 604-694-8846, [email protected]