TORONTO, May 6, 2021 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") commenced a disciplinary proceeding in respect of Jason Martineau ("Respondent") by Notice of Hearing dated October 5, 2020.
As the result of a settlement agreement entered into between Staff of the MFDA and the Respondent, a settlement hearing will proceed before a Hearing Panel of the MFDA's Central Regional Council by electronic hearing on May 11, 2021, commencing at 10:00 a.m. (Eastern), or as soon thereafter as the matter can be heard. Members of the public who would like to obtain particulars should contact email@example.com.
The subject matter of the proposed settlement agreement concerns matters for which the Respondent may be disciplined pursuant to ss. 20 and 24.1.1 of By-law No. 1 of the MFDA. In particular, the settlement agreement concerns allegations that the Respondent:
between May 4, 2018 and June 28, 2018, signed the signature of a client on 3 forms and submitted them to the Member for processing, contrary to MFDA Rule 2.1.1;
between May 4, 2018 and June 28, 2018, altered or completed 4 forms without the client's knowledge or authorization, and submitted the forms to the Member for processing, contrary to MFDA Rule 2.1.1;
commencing on April 30, 2018, failed to inform or misled a client about the circumstances of the transfer of the commuted value of her pension to the Member, contrary to MFDA Rule 2.1.1; and
commencing June 27, 2018, made false or misleading statements to the Member and MFDA Staff during the course of investigations into his conduct, contrary to MFDA Rule 2.1.1.
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.
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 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
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