MFDA announces settlement hearing to take place in respect of Kyle Kidnie
TORONTO, June 20, 2019 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") commenced a disciplinary proceeding in respect of Kyle Norman Kidnie ("Respondent") by Notice of Hearing dated March 25, 2019.
TORONTO, June 20, 2019 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") commenced a disciplinary proceeding in respect of Kyle Norman Kidnie ("Respondent") by Notice of Hearing dated March 25, 2019.
An appearance in this proceeding was held on June 18, 2019 by teleconference before a Hearing Panel of the MFDA's Central Regional Council.
As the result of a settlement agreement entered into between Staff of the MFDA and the Respondent, the settlement hearing will take place on September 27, 2019, commencing at 10:00 a.m. (Eastern), or as soon thereafter as the matter can be heard, in the hearing room at the offices of the MFDA, 121 King Street West, Suite 1000, Toronto, Ontario.
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,
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a) |
on October 25, 2017, signed a client's signature on three account forms and submitted the forms to the Member for processing, contrary to MFDA Rule 2.1.1; and |
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on November 22, 2017, misled the Member in its investigation into his conduct when he falsely represented to the Member that a client had signed three account forms when the Respondent had signed the client's signature on the account forms, 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.
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 conducted business in the Elmira, 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
