MFDA Hearing Panel accepts Settlement Agreement with Kelvin Byce
TORONTO, Aug. 19, 2013 /CNW/ - A Settlement Hearing in the matter Kelvin Donald Byce (the "Respondent") was held today in Toronto, Ontario before a three-person Hearing Panel of the MFDA's Central Regional Council.
The Hearing Panel accepted the Settlement Agreement between MFDA Staff and the Respondent, as a consequence of which the Respondent has paid a fine of $5,000 and $2,500 in costs.
In the Settlement Agreement, the Respondent admitted that (a) in March 2012, the Respondent falsified one client's signature on one KYC form, contrary to MFDA Rule 2.1.1; and (b) from at least October 9, 2008 to May 8, 2012, the Respondent obtained and maintained 23 blank pre-signed forms for 17 clients, contrary to MFDA Rule 2.1.1.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 115 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
More by this Source
MFDA Hearing Panel approves Settlement Agreement with Michael Kant
Feb 12, 2014, 16:52 ET
MFDA announces disciplinary proceeding in respect of Daniel Yanaky
Feb 12, 2014, 16:35 ET
MFDA Hearing Panel approves Settlement Agreement with William Clarke
Feb 12, 2014, 16:31 ET
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.