MFDA issues Notice of Settlement Hearing in respect of Melissa Smith

TORONTO, July 28, 2016 /CNW/ - The Mutual Fund Dealers Association of Canada ("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 Atlantic Regional Council.

The settlement agreement will be between Staff of the MFDA and Melissa Marie Smith (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:

a)	between March 2014 and February 2015, she altered and, in 17 instances, used to process transactions, 20 account forms in respect of two (2) clients by using photocopies of previously signed signature pages from other forms or altering previously used account forms; and
b)	between March 2014 and October 2014, she obtained and possessed one (1) pre-signed account form in respect of 1 client, contrary to MFDA Rule 2.1.1.

The settlement hearing is scheduled to take place on October 20, 2016, commencing at 10:00 a.m. (Atlantic), or as soon thereafter as the matter can be heard, in the hearing room at the Nova Scotia Securities Commission, located at 5251 Duke Street, Suite 400, Duke Tower, Halifax, Nova Scotia. The hearing will be open to the public, unless and to the extent that the Hearing Panel determines that all or part of the hearing should proceed in the absence of the public. If the Hearing Panel accepts the settlement agreement, then a copy of the decision of the Hearing Panel and the settlement agreement will be made available to the public.

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 conducted business in the Antigonish, Nova Scotia 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 over 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

Charles Toth, Director, Litigation, 416-943-4619, [email protected]