TORONTO, July 3, 2012 /CNW/ - The MFDA today announced that it has commenced disciplinary proceedings in respect of Scott Kelly (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: In June 2011, the Respondent falsified the signatures of clients WG and CD on a client account document, contrary to MFDA Rule 2.1.1.
Allegation #2: Commencing in September 2011, the Respondent has failed or refused to provide documents and information, and to attend an interview requested by the MFDA during the course of an investigation, contrary to s. 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 August 21, 2012 at 11:00 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 121 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