TORONTO, Sept. 30, 2014 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") commenced a disciplinary proceeding in respect of Blair Stone Wall Jackson Roche (the "Respondent") by Notice of Hearing (the "Notice of Hearing") dated July 14, 2014.
As the result of a settlement agreement entered into between Staff of the MFDA and the Respondent, the settlement hearing in this matter will take place on October 2, 2014, commencing at 2:00 p.m. (Mountain), or as soon thereafter as the hearing can be held, in the hearing room located at 800 – 6th Avenue SW, Suite 850, Calgary, Alberta.
The subject matter of the proposed settlement agreement concerns matters for which the Respondent may be disciplined pursuant to ss. 20 and 24.1 of By-law No. 1 of the MFDA. The proposed settlement agreement concerns allegations that:
a) | between April 2011 and April 2013, the Respondent permitted non-Approved Persons TS and KW to conduct securities related business with clients for the account and through the facilities of the Member, contrary to MFDA Rules 1.1.1(c), 1.1.2 and 2.1.1; and | |
b) | between April 2011 and April 2013, the Respondent failed to comply with the policies and procedures of the Member by producing and distributing approximately 80 portfolio summaries to approximately 45 clients without the knowledge or involvement of the Member, thereby: | |
i. | interfering with the ability of the Member to supervise the Respondent, contrary to MFDA Rules 1.1.2 and 2.5.1, and MFDA Rule 2.1.1; and | |
ii. | failing to comply with MFDA Rule 2.1.3. | |
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 Hearing is available on the MFDA website at www.mfda.ca. During the period described in the Notice of Hearing, the Respondent carried on business in Calgary, Alberta.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 108 Members and their approximately 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
