MFDA issues Notice of Settlement Hearing in respect of Roland Mah
TORONTO, Dec. 21, 2018 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") announced that it has issued a Notice of Settlement Hearing dated November 20, 2018 regarding the presentation, review and consideration of a proposed settlement agreement by a Hearing Panel of the MFDA's Prairie Regional Council.
The settlement agreement will be between Staff of the MFDA and Roland Mah ("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 from June 1, 2013 to April 30, 2016, the Respondent:
i. |
learned, but failed to record on Member account forms, accurate Know-Your-Client information for clients; and |
ii. |
failed in his capacity as Branch Manager to supervise two Approved Persons to ensure they recorded accurate Know-Your-Client information for clients on Member account forms, |
contrary to MFDA Rules 2.2.1(b) and 2.5.5(f). |
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The settlement hearing will take place on January 9, 2019, commencing at 10:00 a.m. (Mountain), or as soon thereafter as the matter can be held, in the hearing room at the Renaissance Edmonton Airport Hotel, located at 4236 36th Street East, Edmonton International Airport, Edmonton, Alberta.
MFDA settlement hearings are typically held in the absence of the public pursuant to section 20.5 of MFDA By-law No. 1 and Rule 15.2(2) of the MFDA Rules of Procedure. If the Hearing Panel accepts the settlement agreement, then the proceeding will become open to the public and a copy of the decision of the Hearing Panel and the settlement agreement will be made available at www.mfda.ca.
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 Edmonton, Alberta 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 82,000 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]; Mark Stott, Vice-President, Prairie Region, 403-215-8329, [email protected]
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