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MFDA issues Notice of Settlement Hearing in respect of Zeleen Mitha

·2 min read

TORONTO, Dec. 22, 2020 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") announced that it has issued a Notice of Settlement Hearing dated December 15, 2020, regarding the presentation, review and consideration of a proposed settlement agreement by a Hearing Panel of the MFDA's Central Regional Council.

The settlement agreement will be between Staff of the MFDA and Zeleen Mitha ("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 the Respondent:

a)

on February 28, 2019, sent emails from her business email address to her personal email address attaching documents containing confidential information of clients of the Member without the consent of the clients, thereby failing to maintain in confidence all information received by the Member relating to clients, contrary to the Member's policies and procedures and MFDA Rules 2.1.3, 2.1.1, 1.1.2 and 2.5.1; and



b)

in or about February 2019, altered her manager's written assessment of her performance on a performance review document, inserted the electronic initials of her manager and Regional Vice President on the performance review document without their knowledge or approval, and submitted the performance review to another financial institution in support of an application for employment, contrary to MFDA Rule 2.1.1.

The settlement hearing will take place by electronic hearing on March 19, 2021, commencing at 10:00 a.m. (Eastern), or as soon thereafter as the matter can be held. Members of the public who would like to obtain particulars should contact hearings@mfda.ca.

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 Toronto, 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

Cision
Cision

View original content: http://www.newswire.ca/en/releases/archive/December2020/22/c8678.html