TORONTO, ON, Sept. 28, 2021 /CNW/ - The Mutual Fund Dealers Association of Canada (the "MFDA") has commenced disciplinary proceedings in respect of Robert Earl Ledingham (the "Respondent"). In its Notice of Hearing dated September 7, 2021 (the "Notice of Hearing"), Staff of the MFDA alleges that the Respondent engaged in the following conduct contrary to the By-laws, Rules and/or Policies of the MFDA:
Allegation #1: Between July 28, 2014 and January 15, 2019, the Respondent photocopied signature pages from account forms that had been signed by clients and re-used the signature pages to complete 8 additional forms in respect of 3 clients, contrary to MFDA Rule 2.1.1.
Allegation #2: Between April 26, 2012 and January 15, 2019, the Respondent altered and used to process transactions 57 account forms in respect of 37 clients by altering information on the account forms without having the client initial the alterations, contrary to MFDA Rule 2.1.1.
Allegation #3: Between May 9, 2012 and March 11, 2019, the Respondent obtained, possessed, and in some instances used to process transactions, 67 pre-signed account forms in respect of 43 clients, contrary to MFDA Rule 2.1.1.
The first appearance in this proceeding will take place by teleconference before a Hearing Panel of the MFDA's Central Regional Council on October 27, 2021 at 10:00 a.m. (Eastern), or as soon thereafter as the appearance can be held, to schedule a date for the commencement of the hearing on the merits and to address any other procedural issues. The appearance will be open to the public, except as may be required for the protection of confidential matters. Members of the public who would like to listen to the teleconference should contact firstname.lastname@example.org to obtain particulars.
The MFDA is the self-regulatory organization for Canadian mutual fund dealers, regulating the operations, standards of practice and business conduct of its 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