MFDA announces disciplinary proceeding in respect of Estrella Ogalino
TORONTO, April 18, 2013 /CNW/ - The MFDA today announced that it has commenced disciplinary proceedings in respect of Estrella Ogalino (the "Respondent"). MFDA Staff alleges in its Notice of Hearing that the Respondent engaged in the following conduct contrary the By-laws, Rules or Policies of the MFDA:
Allegation #1: Between July 2007 and March 2011, the Respondent misappropriated at least $52,728 from at least 8 clients, thereby failing to deal fairly, honestly and in good faith with the clients, contrary to MFDA Rule 2.1.1.
Allegation #2: Commencing on or about September 1, 2011, the Respondent has failed to attend an interview to provide a statement and to produce documents and records as requested by MFDA Staff during the course of an investigation, contrary to section 22.1 of MFDA By-law # 1.
The first appearance in this matter will take place by teleconference before a Hearing Panel of the MFDA's Central Regional Council on June 5, 2013 at 10:00 a.m. (Eastern) in the MFDA hearing room located at 121 King Street West, Suite 1000, Toronto, Ontario. 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.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 116 Members and their approximately 80,000 Approved Persons with a mandate to protect investors and the public interest.
SOURCE Mutual Fund Dealers Association of Canada