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MFDA announces disciplinary proceeding in respect of Zhengwen Qi and Xiaodan Huang
TORONTO, Jan. 8, 2013, 2013 (Canada NewsWire via COMTEX) --
The MFDA today announced that it has commenced disciplinary proceedings
in respect of Zhengwen (Katherine) Qi and Xiaodan (Bonnie) Huang (the
"Respondents"). MFDA staff alleges in its Notice of Hearing that the
Respondents engaged in the following conduct contrary the By-laws,
Rules or Policies of the MFDA:
Allegation #1: In January 2009, the Respondents engaged in securities related
business that was not carried on for the account of the Member and
through the facilities of the Member by recommending, referring,
selling or facilitating the sale of securities to client CPL outside
the Member, contrary to MFDA Rules 1.1.1(a) and 2.1.1.
Allegation #2: In August 2010, the Respondents failed to inform the Member ofa
complaint by client CPL and a civil proceeding commenced against them
by client CPL andthereafter entered into a settlement agreement
withand paid monies to clientCPL without advising or obtaining the
prior written consent of the Member, contrary to sections 4.1(b)(iii)
and (v) and 4.1(e) of MFDA Policy No. 6 and section 10 of MFDA Policy
No. 3
The first appearance in this matter will take place by teleconference
before a Hearing Panel of the MFDA's Central Regional Council on
February 13, 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. The
first appearance will be open to the public, except as may be required
for the protection of confidential matters. A copy of the Notice of Hearing is available on the MFDA website at www.mfda.ca.
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
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/January2013/08/c4702.html
SOURCE: Mutual Fund Dealers Association of Canada
Shaun Devlin Vice-President, Enforcement 416-943-4672 orsdevlin@mfda.ca
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