MFDA announces disciplinary proceeding in respect of Blair Roche

TORONTO, July 24, 2014 /CNW/ - The Mutual Fund Dealers Association of Canada ("MFDA") has commenced a disciplinary proceeding in respect of Blair Stonewall Jackson Roche (the "Respondent"). In its Notice of Hearing dated July 14, 2014, Staff of the MFDA alleges that the Respondent engaged in the following conduct contrary to the By-laws, Rules or Policies of the MFDA:


Allegation #1: Between April 2011 and April 2013, the Respondent facilitated stealth advising by non-Approved Persons TS and KW, who engaged in securities related business with clients of the Member, contrary to MFDA Rules 1.1.1(c), 1.1.2 and 2.1.1.




Allegation #2: Between April 2011 and April 2013, the Respondent failed to comply with the policies and procedures of the Member by producing and distributing approximately 80 portfolio summaries to approximately 45 clients without the knowledge or involvement of the Member, thereby:







a)

interfering with the ability of the Member to supervise the Respondent, contrary to MFDA Rules 1.1.2 and 2.5.1, and MFDA Rule 2.1.1; and







b)

failing to comply with MFDA Rule 2.1.3.

 

The first appearance in this matter will take place by teleconference before a Hearing Panel of the MFDA's Prairie Regional Council on August 20, 2014 at 10:00 a.m. (Mountain) in the MFDA hearing room located at 800 - 6th Avenue S.W., Suite 850, Calgary, Alberta. The purpose of the appearance is to set a date for the hearing of this matter on its merits and to address any other procedural matters and 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 carried on business in Calgary, Alberta.

The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 110 Members and their approximately 80,000 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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