TORONTO , March 3, 2020 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") has commenced disciplinary proceedings in respect of Brian Walter Wilkinson ("Respondent"). In its Notice of Hearing dated February 10, 2020 ("Notice of Hearing"), Staff of the MFDA alleges that the Respondent engaged in the following conduct contrary to the By-laws, Rules and/or Policies of the MFDA:
Allegation #1: Between about June 2006 and October 2017 , the Respondent failed to inform clients about the risks of holding investments concentrated in precious metal sector funds, contrary to MFDA Rules 2.2.1 or 2.1.1.
Allegation #2: Between September 2010 and April 2015 , the Respondent sent written communications to clients which contained misleading or incomplete information, made unwarranted or exaggerated claims or conclusions or failed to identify material assumptions made in arriving at the conclusions, or were detrimental to the interests of the clients or the Member, contrary to MFDA Rules 2.8 or 2.1.1.
Allegation #3: Between March 2017 and July 2017 , the Respondent issued an advertisement which had not been reviewed and approved by the Member, contrary to the Member's policies and procedures, and MFDA Rules 2.7.3, 2.1.1, 1.1.2, or 2.5.1.
The first appearance in this proceeding will take place by teleconference before a Hearing Panel of the MFDA's Central Regional Council on April 14, 2020 at 11:00 a.m. (Eastern), or as soon thereafter as the appearance can be held, to schedule a date for the commencement of the hearing on the merits and to address any other procedural matters. The appearance will be open to the public, except as may be required for the protection of confidential matters. Members of the public who would like to listen to the teleconference should contact email@example.com to obtain particulars.
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
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