TORONTO , Feb. 28, 2020 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") announced that it has issued a Notice of Settlement Hearing dated February 5, 2020 ("Notice of Settlement Hearing") regarding the presentation, review and consideration of a proposed settlement agreement by a Hearing Panel of the MFDA's Pacific Regional Council.
The settlement agreement will be between Staff of the MFDA and Robert Allan Berget ("Respondent") and involves matters for which the Respondent may be disciplined by a Hearing Panel pursuant to MFDA By-laws. The proposed settlement agreement concerns allegations that:
a) between September 17, 2013 and May 15, 2017 , the Respondent, or his assistant for whom he was responsible, altered 12 account forms in respect of 12 clients by altering information on the account forms without having the clients initial the alterations, contrary to MFDA Rule 2.1.1; and
b) between February 25, 2013 and February 22, 2018 , the Respondent, or his assistant for whom he was responsible, obtained, possessed and in some instances used to process transactions, 17 pre-signed account forms in respect of 13 clients, contrary MFDA Rule 2.1.1.
The settlement hearing is to take place on May 1, 2020 , commencing at 9:30 a.m. (Pacific), or as soon thereafter as the matter can be held, in the hearing room at the offices of the MFDA, 650 West Georgia Street, Suite 1220, Vancouver, British Columbia .
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 Settlement Hearing is available on the MFDA website at www.mfda.ca. During the period described in the Notice of Settlement Hearing, the Respondent carried on business in the Kelowna, British Columbia 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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