TORONTO, March 8, 2012 /PRNewswire/ - The MFDA announced today 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 Jade Truman Kaiser Mason (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 between October 12, 2006 and February 15, 2010, the Respondent failed to observe high standards of ethics and conduct in the transaction of business contrary to MFDA Rule 2.1.1 by:
|i.||falsifying the signatures of at least five clients on a total of at least 10 client account documents; and|
|ii.||falsely signing as a witness to three clients' signatures on four client account documents where he also falsified the clients' signatures on the documents.|
The settlement hearing will take place March 15, 2012 commencing at 10:00 a.m. (Atlantic) in the hearing room located at the Delta Barrington, 1875 Barrington Street, Halifax, Nova Scotia and 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 copies of the decision of the Hearing Panel and the Settlement Agreement will be made available to the public.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 124 Members and their approximately 75,000 Approved Persons with a mandate to protect investors and the public interest.
SOURCE Mutual Fund Dealers Association of Canada