MFDA issues Notice of Settlement Hearing in respect of Scott Boassaly
TORONTO, March 13, 2019 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") announced that it has issued a Notice of Settlement Hearing dated March 1, 2019 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 Scott Allan George Boassaly ("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:
a) |
between July 2015 and September 2015, used liquid correction fluid on the signature of another Approved Person at the Member, affixed the Respondent's own signature and representative code, and in some instances altered or added new dates, on nine account forms that he submitted to the Member for processing, contrary to MFDA Rule 2.1.1; |
b) |
between July 2015 and September 2015, obtained, possessed, or in some instances, used to process transactions, 11 pre-signed account forms in respect of six clients, contrary to MFDA Rule 2.1.1; and |
c) |
between December 2015 and April 2016, altered, and used to process transactions, six account forms in respect of four clients by altering information on the account forms without having the client initial the alterations, contrary to MFDA Rule 2.1.1. |
The settlement hearing will take place on March 28, 2019, commencing at 10:00 a.m. (Eastern), or as soon thereafter as the matter can be held, in the hearing room at the offices of the MFDA, 121 King Street West, Suite 1000, Toronto, Ontario.
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 the Ottawa, Ontario 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 81,000 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, Managing Director, Litigation, 416-943-4619, [email protected]
Share this article