MFDA issues Notice of Settlement Hearing in respect of Tamera Jean Williams and Todd Russell Williams

TORONTO, June 28, 2018 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") announced that it has issued a Notice of Settlement Hearing dated June 4, 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 Tamera Jean Williams ("Tamera Williams") and Todd Russell Williams ("Todd Williams") (collectively, the "Respondents") and involves matters for which the Respondents may be disciplined by a Hearing Panel pursuant to MFDA By-laws.

The proposed settlement agreement concerns allegations that Tamera Williams:

1. on or about June 13, 2015, altered information on an account form that had been previously signed by a client and used in a previous transaction in order to process a new transaction in the client's account, contrary to MFDA Rule 2.1.1;
2. between April 2012 and September 2016, falsified 89 account forms in respect of 43 clients by altering information on the account forms without having the clients initial the alterations, contrary to MFDA Rule 2.1.1; and
3. between July 2011 and February 2016, obtained, possessed, and in some instances, used to process transactions, 18 pre-signed account forms in respect of eleven clients, contrary to MFDA Rule 2.1.1.

The proposed settlement agreement also concerns allegations that Todd Williams:

1. on or about January 8, 2013, altered information on an account form that had been previously signed by a client and used in a previous transaction in order to process a new transaction in the client's account, contrary to MFDA Rule 2.1.1;
2. between August 2011 and July 2016, falsified 24 account forms in respect of 21 clients by altering information on the account forms without having the clients initial the alterations, contrary to MFDA Rule 2.1.1; and
3. between July 2011 and March 2016, obtained, possessed, and in some instances, used to process transactions, 14 pre-signed account forms in respect of ten clients, contrary to MFDA Rule 2.1.1..

The settlement hearing will take place on August 2, 2018, commencing at 10:00 a.m. (Mountain), or as soon thereafter as the matter can be held, in the hearing room at the offices of the MFDA, located at 800 - 6th Avenue S.W., Suite 850, Calgary, 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 Respondents conducted on business in Turner Valley, Alberta.

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]

Related Links

http://www.mfda.ca