Mutual Fund Dealers Association

IFIC Makes Submission to MFDA on Account Transfers

Retrieved on: 
Tuesday, September 29, 2020
Mutual Fund Dealers Association, IFIC, Mutual fund, Economy

TORONTO, Sept. 29, 2020 (GLOBE NEWSWIRE) -- The Investment Funds Institute of Canada (IFIC) today filed its submission to the Mutual Fund Dealers Association of Canada (MFDA) responding to its Consultation Paper on Account Transfers.

Key Points: 
  • TORONTO, Sept. 29, 2020 (GLOBE NEWSWIRE) -- The Investment Funds Institute of Canada (IFIC) today filed its submission to the Mutual Fund Dealers Association of Canada (MFDA) responding to its Consultation Paper on Account Transfers.
  • Account transfer delays have been a longstanding concern for the investment funds industry and the clients it serves, said Paul Bourque, President and CEO, IFIC.
  • We encourage the MFDA to take a collaborative approach with other regulatory bodies to help provide clarity and reduce delays.
  • The Investment Funds Institute of Canada is the voice of Canadas investment funds industry.

MFDA Hearing Panel accepts settlement agreement with Mary Innes

Retrieved on: 
Thursday, September 24, 2020
Mutual Fund Dealers Association, R (Miller) v Secretary of State for Exiting the European Union, Public law, Constitutional law

TORONTO, Sept. 24, 2020 /CNW/ - A settlement hearing in the matter of Mary Elizabeth Innes ("Respondent") was held by electronic hearing today in Toronto, Ontario before a three-member Hearing Panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA").

Key Points: 
  • TORONTO, Sept. 24, 2020 /CNW/ - A settlement hearing in the matter of Mary Elizabeth Innes ("Respondent") was held by electronic hearing today in Toronto, Ontario before a three-member Hearing Panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA").
  • In the Settlement Agreement, the Respondent admitted that between January 2013 and October 2018, acting in her capacity as branch manager, she reviewed and approved the use of a total of 113 pre-signed and altered account forms, contrary to MFDA Rules 2.5.5(f) and 2.1.1.
  • A copy of the Settlement Agreement is available on the MFDA website at www.mfda.ca .
  • During the period described in the Settlement Agreement, the Respondent conducted business in the Bellville, Ontario area.

MFDA announces disciplinary proceeding in respect of Troy Hale

Retrieved on: 
Thursday, September 10, 2020
Mutual Fund Dealers Association, R (Miller) v Secretary of State for Exiting the European Union, Respondent, Law, Legal systems, Articles

TORONTO, Sept. 10, 2020 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") has commenced disciplinary proceedings in respect of Troy Allen Hale ("Respondent").

Key Points: 
  • TORONTO, Sept. 10, 2020 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") has commenced disciplinary proceedings in respect of Troy Allen Hale ("Respondent").
  • Allegation #2: Between November 2016 and May 2017, the Respondent obtained, possessed, and used to process transactions, 10 pre-signed account forms in respect of 10 clients, contrary to MFDA Rule 2.1.1.
  • 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 the Medicine Hat, Alberta area.

National Poll: What Canadian Investors want in a Modern SRO

Retrieved on: 
Tuesday, September 8, 2020
Mutual Fund Dealers Association, Self-regulatory organization, Finance, Mutual fund, Money, Investment, Non-reporting issuer

TORONTO, Sept. 8, 2020 /CNW/ -Currently underway in Canada is a process to modernize the framework for the two existing self-regulatory organizations (SRO).

Key Points: 
  • TORONTO, Sept. 8, 2020 /CNW/ -Currently underway in Canada is a process to modernize the framework for the two existing self-regulatory organizations (SRO).
  • The Mutual Fund Dealers Association of Canada (MFDA), the national SRO that oversees mutual fund dealers in Canada, today released a report that summarizes the results of a National Poll that examines Canadian retail investors' views around the SRO framework review, and their expectations, priorities and hopes for what a modern SRO should look like.
  • According to the National Poll:
    88% of Canadian investors believe that Canadian regulators should provide more oversight of the investment industry;
    91% of Canadian investors believe that financial products and services that are alike should be regulated in the same way; and
    more than two-thirds (69%) of Canadians investors think that designing a new SRO through a comprehensive review that emphasizes accountability, government oversight and investor protection is preferable to a simple status quo SRO merger.
  • The national public opinion poll was conducted by Maru/Blue with a sample of 2,000 Canadians that have a mutual fund or investment account.

MFDA announces disciplinary proceeding in respect of Ramnarine Ramgolam

Retrieved on: 
Friday, September 4, 2020
Mutual Fund Dealers Association, Respondent, Ramnarine

TORONTO, Sept. 4, 2020 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") has commenced disciplinary proceedings in respect of Ramnarine Ramgolam ("Respondent").

Key Points: 
  • TORONTO, Sept. 4, 2020 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") has commenced disciplinary proceedings in respect of Ramnarine Ramgolam ("Respondent").
  • Allegation #2: Commencing on September 27, 2017, the Respondent borrowed $50,000 from a client, contrary to the policies and procedures of the Member and MFDA Rules 2.1.4, 1.1.2, 2.5.1, and 2.1.1.
  • The appearance will be open to the public, except as may be required for the protection of confidential matters.
  • A copy of the Notice of Hearing is available on the MFDA website at www.mfda.ca .

MFDA announces disciplinary proceeding in respect of Omar Enrique Rojas Diaz

Retrieved on: 
Tuesday, September 1, 2020
Mutual Fund Dealers Association

TORONTO, Sept. 1, 2020 /CNW/ -The Mutual Fund Dealers Association of Canada ("MFDA") has commenced disciplinary proceedings in respect of Omar Enrique Rojas Diaz (also known as Omar Rojas) ("Respondent").

Key Points: 
  • TORONTO, Sept. 1, 2020 /CNW/ -The Mutual Fund Dealers Association of Canada ("MFDA") has commenced disciplinary proceedings in respect of Omar Enrique Rojas Diaz (also known as Omar Rojas) ("Respondent").
  • The appearance will be open to the public, except as may be required for the protection of confidential matters.
  • 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 Toronto, Ontario.

MFDA Hearing Panel accepts settlement agreement with David Lasher

Retrieved on: 
Friday, August 28, 2020
Mutual Fund Dealers Association, ONTARIO, BELLEVILLE

TORONTO, Aug. 28, 2020 /CNW/ - A settlement hearing in the matter of David Bruce Lasher ("Respondent") was held by electronic hearing on August 27, 2020 in Toronto, Ontario before a three-member Hearing Panel of the CentralRegional Council of the Mutual Fund Dealers Association of Canada ("MFDA").

Key Points: 
  • TORONTO, Aug. 28, 2020 /CNW/ - A settlement hearing in the matter of David Bruce Lasher ("Respondent") was held by electronic hearing on August 27, 2020 in Toronto, Ontario before a three-member Hearing Panel of the CentralRegional Council of the Mutual Fund Dealers Association of Canada ("MFDA").
  • A copy of the Settlement Agreement is available on the MFDA website at www.mfda.ca .
  • During the period described in the Settlement Agreement, the Respondent conducted business in the Belleville, Ontario area.
  • 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.

MFDA announces disciplinary proceeding in respect of Amin Mohammed Ali

Retrieved on: 
Monday, August 24, 2020
Mutual Fund Dealers Association

TORONTO, Aug. 24, 2020 /CNW/ -The Mutual Fund Dealers Association of Canada ("MFDA") has commenced disciplinary proceedings in respect of Amin Mohammed Ali ("Respondent").

Key Points: 
  • TORONTO, Aug. 24, 2020 /CNW/ -The Mutual Fund Dealers Association of Canada ("MFDA") has commenced disciplinary proceedings in respect of Amin Mohammed Ali ("Respondent").
  • Allegation#2: Between 2006 and February 13, 2018, the Respondent provided false and misleading responses to the Member, contrary to MFDA Rule 2.1.1(b) and (c).
  • 1Effective December 3, 2010, former MFDA Rule 1.2.1(d) was renumbered as MFDA Rule 1.2.1(c).
  • Effective March 17, 2016, former MFDA Rule 1.2.1(c) was mended and renumbered as MFDA Rule 1.3.

MFDA announces disciplinary proceeding in respect of Helen Harry

Retrieved on: 
Wednesday, August 19, 2020
Mutual Fund Dealers Association

TORONTO, Aug. 19, 2020 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") has commenced disciplinary proceedings in respect of Helen Catherine Harry ("Respondent").

Key Points: 
  • TORONTO, Aug. 19, 2020 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") has commenced disciplinary proceedings in respect of Helen Catherine Harry ("Respondent").
  • Allegation#2: Between November 2013 and December 2018, the Respondent altered and used to process transactions, 18 account forms in respect of 18 clients, by altering information on the account forms without having the clients initial the alterations, contrary to MFDA Rule 2.1.1.
  • A copy of the Notice of Hearing is available on the MFDA website at www.mfda.ca .
  • 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.

MFDA Hearing Panel imposes sanctions against John Elwood

Retrieved on: 
Wednesday, August 19, 2020
Mutual Fund Dealers Association, Respondent, R (Miller) v Secretary of State for Exiting the European Union, Law, Legal systems, Articles

TORONTO, Aug. 19, 2020 /CNW/ -The Mutual Fund Dealers Association of Canada ("MFDA") commenced a disciplinary proceeding in respect of JohnDavid Elwood ("Respondent") by Notice of Hearing dated June 7, 2019.

Key Points: 
  • TORONTO, Aug. 19, 2020 /CNW/ -The Mutual Fund Dealers Association of Canada ("MFDA") commenced a disciplinary proceeding in respect of JohnDavid Elwood ("Respondent") by Notice of Hearing dated June 7, 2019.
  • In its Reasons for Decision (Misconduct) dated February 20, 2020, the Hearing Panel outlined its reasons for its findings of misconduct made against the Respondent.
  • A penalty hearing in this proceeding was held on August 19, 2020 by electronic hearing in Toronto, Ontario before a three-member Hearing Panel of the MFDA's Central Regional Council.
  • A copy of the Reasons for Decision (Misconduct) is available on the MFDA website at www.mfda.ca .