|By PR Newswire||
|March 7, 2014 04:39 PM EST||
TORONTO, March 7, 2014 /CNW/ - A Settlement Hearing in the matter of Felizaida Yancha Colinares (the "Respondent") was held yesterday in Toronto, Ontario before a three-member Hearing Panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA").
The Hearing Panel approved the Settlement Agreement between MFDA Staff and the Respondent, as a consequence of which the Respondent shall, from the date of the final Order, be prohibited for one (1) year from conducting securities related business in any capacity while in the employ of or associated with any MFDA Member, pursuant to s. 24.1.1(e) of By-law No. 1.
In the Settlement Agreement, the Respondent admitted that:
in or about September 2012, she engaged in personal financial dealings with client MD by borrowing $3,000 from client MD, thereby placing her own interests ahead of the client's interests and creating a conflict or potential conflict of interest which the Respondent failed to address by the exercise of responsible business judgment influenced only by the best interests of the client, contrary to MFDA Rules 2.1.4 and Rule 2.1.1; and
in or about 2011 and November 2012, she engaged in personal financial dealings with client LM and client JZ by using the clients' credit cards (with their knowledge and consent) to pay personal expenses, thereby placing her own interests ahead of the clients' interests and creating a conflict or potential conflict of interest which the Respondent failed to address by the exercise of responsible business judgment influenced only by the best interests of the clients, contrary to MFDA Rules 2.1.4 and Rule 2.1.1.
The Hearing Panel advised that it will issue written reasons for its decision to accept the Settlement Agreement in due course.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 111 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
Sep. 26, 2016 08:15 AM EDT Reads: 1,541
Sep. 26, 2016 08:15 AM EDT Reads: 2,363
Sep. 26, 2016 08:15 AM EDT Reads: 2,534
Sep. 26, 2016 07:15 AM EDT Reads: 1,596
Sep. 26, 2016 07:15 AM EDT Reads: 1,879
Sep. 26, 2016 07:00 AM EDT Reads: 2,646
Sep. 26, 2016 06:45 AM EDT Reads: 1,074
Sep. 26, 2016 06:45 AM EDT Reads: 1,956
Sep. 26, 2016 06:30 AM EDT Reads: 1,569
Sep. 26, 2016 06:30 AM EDT Reads: 2,414
Sep. 26, 2016 06:15 AM EDT Reads: 1,651
Sep. 26, 2016 04:30 AM EDT Reads: 1,060
Sep. 26, 2016 04:30 AM EDT Reads: 1,417
Information technology is an industry that has always experienced change, and the dramatic change sweeping across the industry today could not be truthfully described as the first time we've seen such widespread change impacting customer investments. However, the rate of the change, and the potential outcomes from today's digital transformation has the distinct potential to separate the industry into two camps: Organizations that see the change coming, embrace it, and successful leverage it; and...
Sep. 26, 2016 03:15 AM EDT Reads: 1,092
There is growing need for data-driven applications and the need for digital platforms to build these apps. In his session at 19th Cloud Expo, Muddu Sudhakar, VP and GM of Security & IoT at Splunk, will cover different PaaS solutions and Big Data platforms that are available to build applications. In addition, AI and machine learning are creating new requirements that developers need in the building of next-gen apps. The next-generation digital platforms have some of the past platform needs a...
Sep. 26, 2016 03:00 AM EDT Reads: 1,770