MFDA issues Notice of Settlement Hearing in respect of Alex Wai Yuk Lam
TORONTO, Sept. 5, 2012 /CNW/ - The MFDA today announced that it has issued a Notice of Settlement Hearing 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 Alex Wai Yuk Lam (the "Respondent") and involves matters for which the Respondent may be disciplined by a Hearing Panel pursuant to MFDA By-laws.
The proposed agreement concerns allegations that the Respondent obtained and maintained 28 blank and incomplete pre-signed forms for 16 clients from 2002 to 2010, contrary to MFDA Rule 2.1.1(a).
The settlement hearing is scheduled to take place on September 11, 2012 commencing at 10:00 a.m. (Eastern) in the MFDA hearing room located at 121 King Street West, Suite 1000, Toronto, Ontario. The hearing 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 120 Members and their approximately 75,000 Approved Persons with a mandate to protect investors and the public interest.
SOURCE Mutual Fund Dealers Association of Canada