TORONTO , Sept. 9, 2019 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") commenced a disciplinary proceeding in respect of Robert John Kent ("Respondent") by Notice of Hearing dated March 4, 2019 .
As the result of a settlement agreement entered into between Staff of the MFDA and the Respondent, the settlement hearing will proceed on September 10, 2019 , commencing at 10:00 a.m. ( Newfoundland ), or as soon thereafter as the matter can be heard, in the hearing room at the Sheraton Hotel Newfoundland, 115 Cavendish Square, St. John's, Newfoundland .
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 April 2015 and December 2016, obtained and possessed four pre-signed account forms in respect of two clients, contrary to MFDA Rule 2.1.1; and
between December 2009 and June 2017, altered ten account forms in respect of nine clients by altering information on the account form without having the client initial the alterations, 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 St. John's, Newfoundland 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
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